ABN Amro launches foray into retail FX and other assets
It seems no business is too small as the leading sell-side players look to increase their FX trading volumes. ABN Amro is the latest bank to join the fray.
AA-rated Dutch banking group ABN Amro is poised to officially roll out a new trading platform aimed specifically at attracting business from what is becoming the increasingly important retail sector. The platform, marketindex, was soft launched in Germany on June 6. According to Robert Lempka, global head of marketindex, the site will be fully launched in mid-July with a widespread marketing campaign.
“The site is basically up and running now. It’s trading in a real environment, but the soft launch has given us a chance to bed things in properly before starting a full marketing campaign in July. Even without any fanfare, we have seen really good interest,” says Lempka.
ABN Amro says it plans to leverage on its global retail presence to capture business and attract new participants in FX, equity, fixed income and commodities.
Multi-asset class platform
“Germany is our first target market, but we will extend it out to other countries through the course of the year,” says Lempka. “It is a multi-asset class platform, with FX, commodities, equity indices and fixed-income products on it. The first version of the site has at least one product from each asset class. With regards to FX, we will initially quote very competitive prices on 23 currency pairs,” says Lempka.