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FFastFill
plc - 1st September, 2005
FFastFill signs new customer for its CME FX on Reuters Application Service
FFastFill announced today the signing of JPMorgan's Futures & Options business to go 'live' on its CME FX on Reuters Application Service. This Service gives Reuters Dealing 3000 users direct access to the CME's foreign exchange (FX) futures, and enhances the ability to seamlessly trade FX spot and futures products.
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 CME's 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. FFastFill's Applications Service Provider (ASP) offers participants easy implementation, efficiency and flexibility, allowing firms to increase their trading capabilities.
FFastFill's Executive Chairman and CEO, Keith Todd said: "FFastFill is delighted that it has been selected by JPMorgan's 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 JPMorgan's 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 JPMorgan's electronic trading capabilities".
About FFastFill
FFastFill is the leading provider of application services to the global derivatives community. FFastFill's services and solutions use the latest developments in technology to automate trade flow processes across a firm's front, middle and back offices. FFastFill's solutions encompass electronic order routing, clearing, risk management and back office reporting as part of an
integrated, yet modular system architecture. FFastFill's application services provide institutions with cost savings in their administrative and IT departments and significantly reduce or eliminate the investment costs associated with maintaining their own technology infrastructure. All of FFastFill's services are delivered against a contracted Service Level Agreement (SLA), which can be tailored to an institution's business requirements. This
quality of delivered service has been enabled through the deployment of a uniquely engineered and totally managed software and technology infrastructure.
For further information, please contact:
FFastFill plc
Keith Todd, Executive Chairman - (020) 7665 8900
Rostron Parry
John Parry - (020) 7490 8062
Hansard Communications
Andy Tan - (020) 7245 1100
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