YES Bank chooses Reuters' RTFX to raise capital

Mumbai, July 19 (UNI) Reuters today announced that YES Bank has chosen to make prices on Reuters Trading for Foreign Exchange (RTFX), following the bank's recent annoucement to raise more capital later in financial year ending 2006-07 and expand the number of bank branches in the country.

YES Bank the first private sector bank to join RTFX has also signed up for Reuters leading edge pricing engine technology, Reuters Electronic Trading for Automated Dealing (RET-AD), to automate its FX (foreign exchange) transactions in a real time enviroment over the bank's intranet.

The same pricing engine will be used to make prices on Reuters Trading for Foreign Exchange, Reuters new generation of trading product to meet its-e-commerce needs.

Reuters' South Asia Managing Director Samir Shah told mediapersons here today, ''Reuters electronic FX services will support YES BANK's vision to become a new-age technology savvy bank with a view to better service its customers and grow its business. We look forward to providing corporate treasurers and banks better and faster access to the YES BANK Foreign Exchange Liquidity.'' Meanwhile, YES BANK's Managing Director and CEO said, ''We have selected Reuters electronic transaction system because it will give us the high quality technological capabilities and level of security to track the best prices to compete in the global FX market. We want to give our customers the ultimate confidence to use global internet trading without any security concerns as we expand our FX business.'' YES BANK joins a list of global FX bank as a market maker on RTFX.

It will benefit from the combination of the market leading RET-AD technology and vast distribution of RTFX allowing them to reach new price takers throughout the globe, he added.

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