Seven Leading Financial Institutions Announce Multi-Dealer Foreign Exchange Service: ‘™’

Seven leading financial institutions announced the creation of™, which will offer clients low cost one-stop electronic access to a range of services in foreign exchange (FX), from execution to research. The founding participants are Bank of America, Credit Suisse First Boston, Goldman Sachs, HSBC, J.P. Morgan, Morgan Stanley Dean Witter and UBS Warburg. will offer clients of the participating dealers: • The ability to see and trade on live FX prices supplied simultaneously by participating dealers. • One-stop liquidity in FX spot, forwards and options. • FX research and forecasts from participating firms. • Online order entry, routing and monitoring. • The efficiencies of straight-through processing (STP). • Delivery of a technology platform that is both cost-effective and secure. aims to be as inclusive as possible. Other dealers will be offered an opportunity to take an initial ownership stake in, while participation is open to all FX dealers. A broad-based client advisory board will be formed to provide ongoing feedback on user issues.


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