Reuters, the global news, information and technology group, has announced that it plans to launch a hosted version of Treasury Solutions Automated Dealing service. The hosted version will act as an application service provider (ASP), enabling banks to outsource the high cost element of treasury operations.
Banks will be able to use the service to develop their own-branded automated dealing platform, capable of supporting multiple users across a range of dealing venues within their own networks.
Reuters claims that the service can be configured for large or small deployments and while the service will offer a standard implementation for banks to minimise initial investment, there is also the flexibility to expand and extend the service as demand increases.
The transaction-based fee and low-cost start-up options of the hosted service allow organisations to launch an online FX dealing service quickly and efficiently with minimal investment of time or money," says Mike Whitaker, director, Reuters Treasury Services.
Reuters has also announced the release of an application program interface (API) that can be used to integrate the Automated Dealing capability of Reuters regular, non-hosted, Treasury Solutions product simultaneously with any other internal or external third-party system including multibank portals such as Atriax, Currenex and FXall.
The hosted solution will also use the API to support price and trade requests from multiple sources.