Banco del Bajio, a regional bank based in Leon, Guanajuato, is claiming to be the first in Mexico to offer online foreign exchange trading to the corporate market.
The bank’s new service, called BBFX Cambios, forms part of its Web-based range of services, which are used by between 500 and 600 corporate clients.
Bajio's service is powered by Cognotec’s AutoDeal Lite ASP-based foreign exchange and money market dealing service. The bank says the ASP structure enabled BBFX Cambios to go live less than three months after contracts were signed.
Bajio is also exploring the possibility of using AutoDeal Lite’s Liquidity Linq feature to increase the range of currencies it can offer clients. Liquidity Linq enables banks to pass clients positions up to a nominated liquidity provider who assumes the market risk.