Wachovia Bank has rolled out Online FX, a proprietary online foreign exchange trading platform for executing spot, forward and cross-currency transactions.
Online FX provides trading in more than 25 currencies and delivers 24 hour transaction capabilities and real-time quotes and trade confirmation.
Wachovia says it expects transactions volume executed through its non-dollar currency group to rise by 30% this year as clients migrate to Online FX.
The platform can execute foreign currency hedging transactions for corporate and institutional clients, treasury services customers, high net worth individuals and small-business owners. Online FX also provides secure Internet access and generates digital certificates and an electronic audit trail protected by 128-bit encryption.