ANZ New Zealand is to launch foreign exchange dealing online in the wake of a project by ANZ Australia to have Internet-enabled forex trading by the end of the year.
Called ANZ FX Online, the service is based on the global foreign exchange network Reuters DealWeb. ANZ has piloted it within the bank for the past three months and is talking to larger customers about further trials.
A spokeswoman for ANZ New Zealand, Samantha Shaw, says the bank will wait for the service to bed down in Australia before offering it here, but hopes to do so as soon as possible.
Users will be able to instruct traders online to carry out instructions. The bank claims online trading will reduce operating costs, settlement times and service fees.
Also in Australia, National Australia Bank has gone line with its Internet forex trading service National FX Dealing.