Wachovia expects 30% leap in web-based trading
Wachovia Bank N.
Wachovia Bank N.A., expects up to a 30% jump in web-based trading following the roll-out of its Online FX proprietary foreign exchange trading platform, said Mark Gargano, head of the banks Currency Risk Management group. In addition to 24-hour transaction capabilities with real-time quotes and trade confirmation, Online FX offers spot, forward, forward windows and drawdowns in more than 25 currencies. Full multi-currency account functionality is also available. A growing segment of our client base wants to transact their foreign exchange currency transactions online, Gargano said.
Online FX can execute foreign currency hedging transactions for corporate and institutional clients, correspondent banks, high net worth individuals and small-business owners.