Multi-bank electronic foreign exchange portal Atriax has introduced additional dealing functionality to its FX trading system and welcomed new members Jyske Bank, Nedcor bank and Rand Merchant bank.
A new spreadsheet deal import functionality enables users to prepare single deals or batches of deals offline and import these to the dealing system in a single operation for execution.
A variation on Atriax's existing Request for Quote dealing functionality allows users to deal instantly on either side of a requested two-way price. Instead of inputting or uploading details of a deal, users simply request a pure two-way price in the required amount.
An audible signal has been provided to alert price-makers to the receipt of a request for quote.
The first of a range of facilities for intra-company dealing has also been introduced. By utilising both price-maker and price-taker functionalities, an Atriax corporate member can provide FX pricing to its subsidiaries worldwide and then lay off the risk to its banks as and when it chooses. The system enables the member to set the prices on which its subsidiaries deal. Subsidiaries obtain these prices by submitting requests for quote to the central treasury in exactly the same way that the central treasury submits requests to its banks.
For Atriax members where the central treasury does not make prices to its subsidiaries, but instead executes deals in the market on their behalf, Atriax offers a user profile that enables the preparation but prohibits the execution of deals.
The foreign exchange portal is also reporting the addition of Jyske Bank, Nedcor Bank, and Rand Merchant Bank to its membership. This brings to seventy the number of Atriax member banks.