Standard Chartered Extends Online Coverage of African Currencies

Standard Chartered has extended its online coverage of African currencies to 24 hours daily, with tenors of up to one year for liquid and unrestricted currencies. The extension applies to African currencies on Standard Chartered’s On-Line Treasury (OLT3), Straight2Bank Stream and GFM Online platforms, as well as via supported client trading venues such as Bloomberg FX, Reuters RTFX, 360T, FXall and Currenex RFQ.

Alongside these platforms, foreign exchange (FX) orders for selected African currencies are also accepted via the FX fixings module on Standard Chartered’s proprietary electronic banking channel, Straight2Bank. The FX orders will be accepted for execution based on the published FX fixing rates at specific fixings times.

“Following the extension of online coverage for GCC Currencies last year, we received positive responses from clients and are now ready to introduce 24-hour online support for African currencies. With the extension, clients will have round-the-clock access to the latest FX information on multiple trading platforms, enabling them to make quick, informed decisions on time-sensitive FX trading,” said Zeeshan Khan, global head of ecommerce, financial markets, Standard Chartered Bank.

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