Press Release
Standard Chartered offers round-the-clock coverage of Spot and Forward GCC Currencies
Region: Middle East & Pakistan Published by:
Valerie TAY
Date:
29 October 2009
Foreign exchange
29 October 2009, UAE – Standard Chartered has extended its online coverage of Gulf Cooperation Council (GCC) currencies to 24 hours daily from Monday to Friday. The extension applies to AED, SAR, KWD, BHD, QAR and OMR currencies on Standard Chartered’s proprietary Request For Quote foreign exchange service, On-line Treasury (OLT3), and FXall platforms.
All extended-coverage GCC currencies are available in Spot, Forward and Swaps up to a maximum tenor of one year. Weekend coverage on Saturday and Sunday is also provided for GCC currencies AED, SAR, KWD, BHD, QAR and OMR during Middle East trading hours on Standard Chartered’s OLT3. In addition, GCC currencies JOD, MAD and TND will be quoted on a spot basis between 08:00 and 18:00 UAE time (04:00 to 14:00 GMT).
Besides OLT3 and FXall, Standard Chartered is also quoting GCC Currencies on Reuters RTFX, Bloomberg FX, GFM Online and 360T in Spot, Forward and Swaps up to a maximum tenor of one year. This is available between 08:00 and 18:00 UAE time (04:00 to 14:00 GMT) from Monday to Friday.
“The extension of online coverage for GCC currencies demonstrates Standard Chartered’s commitment to serving our clients better. We are continually improving our service capabilities and expanding our product suite to come up with client-centric solutions to meet their changing needs. Going forward, clients will benefit by having up-to-date information at their fingertips 24 hours daily, enabling them to make informed decisions in FX trading,“ said Lee Boon Huat, Regional Head of Global Markets, Middle East and North Africa.
For further information please contact:
Valerie Tay
Corporate Affairs, Group Wholesale Banking
Tel: +65 67257792
E-mail: Valerie.Tay@sc.com
Note to editors:
About Standard Chartered Bank
Standard Chartered – leading the way in Asia, Africa and the Middle East
Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world’s most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.
Standard Chartered aspires to be the best international bank for its customers across its markets. The Group derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has over 1,600 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.
Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs more than 70,000 people, nearly half of whom are women. The Group’s employees are of 125 nationalities, of which about 70 are represented in the senior management.
For more information, please visit: www.standardchartered.com
About Financial Markets
Financial Markets at Standard Chartered is a globally integrated business spanning Asia, Africa, the Middle East, the UK and US. Financial Markets includes trading functions such as equities, commodities, fixed income trading (rates, foreign exchange and credit) an integrated sales platform, capital markets and structured products. Standard Chartered’s capital markets business, comprising Fixed Income, Asset Securitisation and Loan Syndications, consistently dominate league tables and rankings in markets core to its footprint. The Bank has a particular competitive advantage in Islamic financing and cross border issuance capabilities. The Bank holds the top position in interest rate derivatives and currency derivatives (source: Asia Risk Corporate End User Survey 2009). The Bank is a major participant in the global rates and FX markets, actively trading in over 100 onshore and offshore currencies. Standard Chartered is a market leader in the provision of emerging markets liquidity and has pioneered the development of new FX Options markets and products.
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