Fifth Third Bank’s Financial Risk Solutions group today introduced Fifth Third Market Trade, an online platform for executing and confirming foreign exchange trades.
“After conducting more than three months of market research and one-on-one client conversations, we uncovered the need to bring a system to market that makes it easier and quicker to execute foreign currency exchanges,” said Bob Tull, managing director and group head of Fifth Third Financial Risk Solutions. “It’s our job to help solve our clients’ problems or address technology gaps by developing digital tools that provide robust solutions. Fifth Third Market Trade addresses a real need.”
Fifth Third Market Trade is accessible through Fifth Third Direct and provides an easy-to-navigate electronic trade process. The process begins with a client’s signing in to Fifth Third Direct and initiating a currency transaction. From there, Fifth Third can validate and execute the transaction electronically, typically within seconds.
Key features of Fifth Third Market Trade include:
- Convenience. Quickly view exchange rates, which are automatically populated. Easily export data and get easy access to a transactions history for reference or audit purposes.
- Visibility. Manage foreign exchange trades from Fifth Third Direct, where clients can view and manage all business finances. Clients also can search trade history in real time.
- Security. Proactively manage user access and permissions.
Clients using Fifth Third Market Trade will continue to have access to a professional risk management representative as a resource. The Financial Risk Solutions group serves a global client base including banks and corporations.
For more information about Fifth Third Market Trade, visit www.53.com/markettrade.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of March 31, 2018, the Company had $142 billion in assets and operated 1,153 full-service Banking Centers and 2,459 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to more than 54,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2018, had $363 billion in assets under care, of which it managed $37 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank. Member FDIC.
About Fifth Third Capital Markets
Fifth Third Capital Markets is the marketing name under which Fifth Third Bank (“Fifth Third”) and Fifth Third Financial Risk Solutions (“FTFRS”), a division of Fifth Third, provide financial risk management products and services, including derivatives products. Fifth Third Bank is a provisionally registered Swap Dealer with the Commodity Futures Trading Commission (“the CFTC”).