Beijing – Reuters (LSE: RTR, NASDAQ: RTRSY), the global information company, today announced that five leading banks in China have signed agreements to use Reuters Dealing 3000 matching service, the premier electronic system in China.

Bank of China (BOC), Bank of Communications, Bank of Montreal, China Construction Bank (CCB), Industrial and Commercial Bank of China (ICBC) have all recently signed agreements for Reuters Dealing 3000 Matching service.  These moves support Reuters aims to be the leading electronic broker in China.

With Reuters Dealing 3000 matching, Banks in China can trade approximately 39 global currency pairs in Spot FX, including the US Dollar, Euro, Japanese Yen, and Sterling.

Rod Jones, Executive Managing Director of International Capital Market, Bank of Montreal, said: “We are taking Reuters Spot Matching service in order to enhance the liquidity in the fast growing China Market.”

Zhang Wei Zhong, Chief Dealer, Bank of Communications in Shanghai, said: “We are now able to access a large number of counterparties, giving us a much greater pool of liquidity. Reuters Dealing service is a great help as our trading volume in G7 currencies has increased tremendously following China's economic and trade growth.”

Sun Xiao Fan, Global Head of FX, Bank of China in Beijing, said: "As one of the major participants in the China market, we look forward to working with Reuters as it is an established member in the global FX market. We would like to develop a long and fruitful relationship with Reuters."

Alexander Hungate, Managing Director, Reuters Asia, said: “These moves by the five major banks to trade on the Reuters Dealing 3000 Matching service show China is moving forward towards greater currency flexibility and major players in China are riding on the current and potential opportunities to grow their treasury FX businesses.”

Reuters Dealing 3000, the premium FX & money markets trading system, is used by nearly 18,000 FX and money market professionals across 4,000 organizations to trade FX spot, forwards, options, futures, in addition to interest rate and overnight index swaps and commodities such as bullion.

Ends

Contacts:

Liam Hwee Tay
Head of Corporate Communications
Reuters Asia
Tel: +65 68703028, +65 98193895
liam.tay@reuters.com
 
Yvonne Diaz
PR Director
Reuters
T: +44 (0) 20 7542 2615
M: +44 (0) 7990 560 615
yvonne.diaz@reuters.com

Note to editors:
Reuters (www.about.reuters.com), the global information company, provides indispensable information tailored for professionals in the financial services, media and corporate markets. Its trusted information drives decision making across the globe based on a reputation for speed, accuracy and independence. Reuters has 15,300 staff in 91 countries, including staff from the acquisition of Moneyline Telerate in June 2005.  It also includes 2,300 editorial staff in 196 bureaux serving 129 countries, making Reuters the world's largest international multimedia news agency. In the 2004 Reuters Group revenues, including those of Instinet Group, were £2.9 billion.  From July 2005, Instinet Group is being treated as a discontinued operation in the profit and loss account.
 
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