Australia’s leading commercial banks outsources FX trading platform across its global franchise.
US-based technology provider Broadway Technology has announced that the latest client for its FX platform is Australia’s Westpac. Broadway cited its expectation that currency flows (and trading) in AUD and NZD pairs will increase five-fold over the next three years, as a reason for its own increased focus on the Asia-Pacific region.
Behind Westpac’s move to upgrade its FX platform is also increased FX trading in China, a common theme lately at LeapRate. Westpac was one of only two Australian banks to be awarded an FX ‘market maker’ license in China earlier this year, to enable direct trading of AUD/CNY through the China Foreign Exchange Trading System.
For the complete Broadway Technology press release click here.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.