The Hindu Business Line : YES Bank, Reuters tie-up

YES Bank has signed an agreement with Reuters Trading for Foreign Exchange (RTFX) to automate the bank's foreign exchange transactions in a real time environment and enable the bank to use the distribution network of RTFX to reach new price takers throughout the world.

The agreement would give the bank ability to build top-quality execution and client distribution business, said Mr Ajay Mahajan, President, Financial Markets and Institutions.

"The tie-up would give us high-quality technological capabilities and level of security to track the best prices to compete in the global foreign exchange market," he said. The tie-up would give the bank's customers access to real-time information on the foreign exchange markets and give them confidence to use global internet trading, he said.

This alliance would also give YES Bank an edge in efficiency and bring them new customers, said Mr Samir Shah, Managing Director, Reuters South Asia. YES Bank expects to set up new branches in the current year and raise Tier-II capital worth Rs 150-200 crore.

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