RBS Launches FX Benchmark Service

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The Royal Bank of Scotland (RBS) has gone live with RBSFiX, a new benchmark engine for spot and forwards FX rates that was developed with spot broker EBS. The launch comes after delays due to problems with the network.

Martin Spurr, head of e-commerce financial markets at Royal Bank of Scotland, says the value of the service lies partly in the transparency it brings to the market. But it also eliminates what Spurr terms the "price discovery question" by removing the need for a client to get q