- Whitney Ellis 513.534.6791
Fifth Third Bank Continues to Expand Global Reach with Trading Platform
With the shift in domestic economic conditions, U.S.-based companies are steadily moving toward the international marketplace as a viable and necessary element of their business model. Fifth Third Bank has long recognized the importance of the global environment and recently introduced a 24-hour Internet trading platform, providing clients with real-time access to the Foreign Exchange (FX) markets.
“To successfully navigate and compete in the International arena, companies must be equipped to manage foreign exchange and the associated business risks,” said Bob Tull, Fifth Third Bank’s Managing Director of Foreign Exchange and Commodities. “The global marketplace never closes, nor should immediate access to it.”
The addition of the online platform gives users a software-free channel to receive industry data, monitor market conditions and trade in more than 100 currencies. Additionally, the secure online service provides automated confirmations and customized settlement instructions of trades.
The Internet solution is a complement to the Bank’s extensive network of 10 FX trading desks throughout the Eastern and Midwest United States (Cincinnati, Columbus, Cleveland, Toledo, Minneapolis, Detroit, Chicago, St. Louis, Tampa, New York City).
For more than 30 years, Fifth Third Bank has been aggressively anticipating and servicing the needs of clients utilizing Foreign Exchange services. According to Tull, a tenured staff of FX and risk professionals, accompanied by a powerful online platform, will provide an additional medium for existing FX clients and will serve as a great tool for those just entering the global markets.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $115 billion in assets, operates 18 affiliates with 1,295 full-service Banking Centers, including 93 Bank Mart locations open seven days a week inside select grocery stores and 2,323 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates five main businesses: Commercial Banking, Branch Banking, Consumer Lending, Investment Advisors and Fifth Third Processing Solutions. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2008, has $207 billion in assets under care, of which it managed $31 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at http://www.53.com . Fifth Third's common stock is traded on the NASDAQ(R) National Global Select Market under the symbol "FITB."