Deutsche Bank Expands FX4Cash with the Addition of 50 Currencies
08 July 2009
New York - Deutsche Bank today announced the availability of 50 additional currencies on its FX4Cash platform. With this addition, clients will now be able to make payments in 125 currencies across more than 160 countries.
Launched in 2008, FX4Cash provides global cross-currency payment solutions for corporations and financial institutions by pairing Deutsche Bank’s industry-leading foreign exchange business with its top-ranked payment and clearing capabilities. Since its inception, FX4Cash has successfully enabled corporations and financial institutions to obtain real-time and competitive FX pricing across more than 2,000 currency pairs. With FX4Cash, clients transact from one base currency account and streamline their cross-border payments in a straight-through process.
Tim Merrell, co-head of FX4Cash, states: "We are pleased to expand our cross-currency platform and bring additional currencies to clients operating in an increasingly global and regulated economy."
Rita Saverino, co-head of FX4Cash comments: "Since its launch last year, clients have valued FX4Cash for its ability to help them minimize costs and simplify operations with their international clients. The fact that we are expanding the reach of this product is a testament to its success and the strength of our global foreign exchange and payment franchises."
For the fifth year in a row, Deutsche Bank has been placed first in Euromoney magazine's annual FX Poll, with a global market share of 21%.
Deutsche Bank is ranked number one in euro clearing based on the Trans-European Automated Real-Time Gross Settlement Express Transfer System (TARGET2), and number five in US dollar clearing based on the Clearing House Inter-bank Payment System (CHIPS).
