HSBC introduces HSBCfix
HSBC has introduced the HSBCfix after recognising and responding to the increasing demand from all sectors of the foreign exchange client community.
First Published by e-Forex News: July, 2007
HSBC has introduced the HSBCfix after recognising and responding to the increasing demand from all sectors of the foreign exchange client community. Rather than using a proprietary methodology however, HSBC has opted to use the universally known and popular provider of fix data, WM/Reuters. WM/Reuters exchange rates are well established and respected independent source of foreign exchange rates. They are also widely used by the main equity and bond index compilers in their calculations and thus used extensively by the fund management community in portfolio valuations and performance measurement. <br />
HSBC can offer both Corporate and Institutional clients execution of foreign exchange spot and forward transactions based on this respected, independently fixed benchmark.<br />
In order to maximise the straight through processing benefits available, the HSBCfix is available to HSBC clients via HSBC proprietary FX Hub Platform or via FXall’s QuickOMS. <br />