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Fifth Third Bank Selects Reuters Electronic Trading Package
Jun 14, 2007 (10:06 AM EDT)
CINCINNATI, June 14 /PRNewswire-FirstCall/ -- Fifth Third Bank today announced it has selected the Reuters Electronic Trading - Automated Dealing Client (RET-AD Client) package to provide its corporate and institutional customers with Internet access to electronic trading Foreign Exchange and Money Markets instruments.
With this new capability, real-time prices for relevant currencies are streamed to the client's desktop, allowing traders to initiate and monitor incoming deals. The system allows automatic and manual pricing of trades that are directly returned to the customer, eliminating or reducing the need for manual intervention.
"With increasing trading volumes and pressure on margins, electronic trading is a cost-effective way for banks to meet their customer needs," says Jeff Chapman, senior vice president and director of Capital Markets for Fifth Third Bank. "The Reuters Electronic Trading - Automated Dealing system will allow Fifth Third Bank customers to trade directly with us over the Internet while experiencing all the benefits of straight through processing."
A chat function allows customers to interact directly with Fifth Third Bank traders, and view a real-time log of all transactions, saving time and money.
"The Foreign Exchange marketplace is extremely competitive, and selecting leading edge technology that can grow to meet new business needs is critical," says Matt O'Hara, head of Treasury for Reuters America. "Therefore, we're pleased Fifth Third Bank turned to Reuters for a robust and flexible solution. With the Reuters Electronic Trading - Automated Dealing platform, Fifth Third Bank's corporate and institutional clients can easily trade over the platform of their choice."
About Fifth Third Bank
Fifth Third Bancorp www.53.com is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $99.8 billion in assets, operates 18 affiliates with 1,166 full-service Banking Centers, including 107 Bank Mart locations open seven days a week inside select grocery stores and 2,127 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania and Missouri. Fifth Third operates five main businesses: Commercial Banking, Branch Banking, Consumer Lending, Investment Advisors and Fifth Third Processing Solutions. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2007, has $225 billion in assets under care, of which it managed $34 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at . Fifth Third's common stock is traded through the NASDAQ(R) National Global Select Market System under the symbol "FITB." Member FDIC.
Reuters ( www.reuters.com ), the global information company, provides indispensable information tailored for professionals in the financial services, media and corporate markets. Through reuters.com and other digital properties, Reuters now also supplies its trusted content direct to individuals. Reuters drives decision-making across the globe based on a reputation for speed, accuracy and independence. Reuters has 16,900 staff in 94 countries, including 2,400 editorial staff in 196 bureaus serving 131 countries. In 2006, Reuters revenues were 2.6 billion pounds Sterling.
Web site: http://www.53.com/ http://www.reuters.com/