Major deal using RBS FiX

The Royal Bank of Scotland Financial Markets (RBS Financial Markets) in conjunction with RBS Structured Finance has transacted a 495 million foreign exchange deal for Avecia Ltd, a leading fine and speciality chemicals company, using the banks RBS FiX electronic trading system.

First Published by e-Forex News: April, 2005

The Royal Bank of Scotland Financial Markets (RBS Financial Markets) in conjunction with RBS Structured Finance has transacted a 495 million foreign exchange deal for Avecia Ltd, a leading fine and speciality chemicals company, using the banks RBS FiX electronic trading system. Avecia was undertaking the sale of its main business unit, NeoResins, based in Holland, generating euro receivables.<br>
Avecia decided to transact the deal using RBS FiX system, which generates foreign exchange benchmarks. This provided them with a transparent market benchmark price that is independently audited and published to the market.