BMO Nesbitt Burns today launched a new online trading system that will automate foreign exchange transactions for corporate and institutional clients.

Called eFXpedite, the new platform will allow users to execute trades on the spot and access foreign exchange prices in real-time, saving clients time and money at every step.

“eFXpedite is an easy, fast and transparent alternative,” said Jamie Thorsen, global head of foreign exchange, BMO Nesbitt Burns. “The new service offers our global foreign exchange clients an additional trading channel to conduct business with us, while still maintaining direct access to the expertise and market knowledge of our FX traders and salespeople.”

Currently, the platform supports the execution of spot, forward, swap and cross-currency transactions. The system is configurable to allow online trading for all major currencies and actively traded minor currencies.

Nesbitt says the benefits of he automated trading platform include increased control; convenience; and flexibility.