FFastFill was chosen by Reuters as the launch partner for this project in May 2004 and has been responsible for building and maintaining a trade order routing service that enables traders using Reuters Dealing 3000 to also execute the CMEâs FX futures contracts.
FFastFill has signed six major institutions for this service, including HSBC, Barclays Capital, Bank of America, Royal Bank of Scotland and ABN AMRO. To take advantage of this new foreign exchange market opportunity, these CME clearing members will not only support their internal trading teams but also offer a service to non-clearing member firms that use the Reuters Dealing 3000 platform. FFastFillâs Applications Service Provider (ASP) offers participants easy implementation, efficiency and flexibility, allowing firms to increase their trading capabilities.
FFastFillâs Executive Chairman and CEO, Keith Todd said: "FFastFill is delighted that it has been selected by JPMorganâs Futures & Options business (first member of the second phase to go live) to deliver the CME FX on Reuters Application Service. This is the first project we have undertaken with JPMorgan and we are pleased that their extensive due diligence of our application services has resulted in our selection."
Todd continued "This is another important milestone for FFastFill as we have demonstrated the benefits of our application services approach and our ability to deliver an innovative robust service for the foreign exchange community. We look forward to continue working with Reuters, CME and the clearing community on developing this project further and spreading its use throughout the global FX community."
Antonio Reyes Miras, global head of electronic trading for JPMorganâs Futures & Options business said: "We are impressed with the Application Service portfolio that FFastFill offers, and recognise that such services enhance our ability to provide market-leading electronic execution solutions to our global client base. We look forward to other FFastFill services that will help the continued development of JPMorganâs electronic trading capabilities".