Tokyo -Resona Bank, one of Japan's leading commercial banks, has selected Reuters (LSE: RTR), the global information company, to implement and host Resona's foreign exchange dealing internet portal. Resona Bank selected Reuters Electronic Trading for Automated Dealing (RET-AD) and will use it to serve its corporate customers throughout Japan.

Resona Bank's foreign exchange (FX) trading portal takes advantage of Reuters new, hosted automated dealing offering. The new system, which will be live in April, will allow Resona Bank's corporate customers to access and trade on real-time, executable foreign exchange prices by accessing Resona Bank's website from any standard internet browser. This will help Resona Bank's customers reduce time and simplify trading foreign exchange from manual deals conducted via telephone.

Reuters ET-AD is recognised for its high performance in such areas as high transaction speed and has already been deployed in major banks worldwide. Resona Bank will be the first bank in Japan to install Reuters new automated dealing system.

Nobuyoshi Yamaguchi, Executive Officer, Corporate Business Division, Resona Bank, said, "By choosing Reuters automated dealing system we will be able to automate existing FX operations, providing more convenient and faster services to our small to mid-size enterprise customers. Additionally, by choosing Reuters hosted option we will be able to offer a service at a lower cost than if we had developed independently. We are optimistic that the new system will be an integral part of our continuing initiatives to improve customer services while lowering overall operation costs."

Yuji Takei, President of Reuters Japan, said, "We are very pleased that Resona Bank selected RET-AD as an important element of their business strategy. The RET-AD hosted can meet a wide variety of customer needs in establishing Internet FX trading systems. We are sure that in the future the system will prove even more useful in streamlining and expanding our customers' operations."

Reuters Electronic Trading for Automated Dealing supports both deployed and hosted services as well as the outsourcing of the pricing of foreign exchange transactions. Banks can use these capabilities to offer their partner banks around the world the ability to create their own branded electronic FX services and minimise the investment required to lower their operational costs.

Reuters Automated Dealing Technologies business specialises in providing leading-edge technology to financial institutions and their customers to conduct FX and money market transactions in a real-time environment over the Internet. The group has provided Automated Dealing Technologies solutions to over 60 leading global financial institutions including ABN AMRO, Bank of America, Bank of New York, Dresdner Kleinwort Wasserstein, HSBC, UBS, amongst others.

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