ABN Amro Bank Romania yesterday held the official launch of its Deal Station service, which offers its corporate clients online and real-time access to foreign exchange and monetary market data with the possibility to place buy and invest orders.
"Deal Station is a service available 24 hours a day which enables foreign currency and monetary transactions to be carried out in real time. Introduced internationally in 2000, the new service is the first of its kind on the Romanian market," ABN Amro Bank Romania's president Henk Mulder told a news conference.
He added that use of the Deal Station on a worldwide level generates transactions that account for 40% of the total operations conducted by ABN Amro on the foreign exchange and monetary markets.
Mulder believes the main direction of development for the bank in the future, both in the corporate and retail segment, will involve providing highly complex services that generate added value for users. "The direction we will take will be to develop these services, with expansion of the branch network not being as important," he explained. However, the bank will still open more branches this year, added Mulder, and the level of investment, especially in the retail segment, will be significant.
Cosmin Bucur, Head of Financial Markets Distribution, said the Deal Station service would be available to all major corporate clients that trade large amounts on the foreign exchange and monetary markets with no caps imposed.
"These clients need a system that makes it possible for them to conduct transactions quickly and in real time. Furthermore, these companies also use a decentralised decision-making process, meaning the person specialising in this field is able to take a decision very quickly if they consider the rate for a given currency favourable," explained Bucur. He added that the service would be provided to clients free of charge, with the bank making money from the quote spread.
ABN Amro Romania will consider extending the Deal Station service to individual customers in the future. The next stage in Deal Station's implementation will be to allow SWAP operations to be performed.
liviu.chiru@zf.ro
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