Centradia Goes Out of Business
FX TRADING TECHNOLOGIES
LONDON—European multi-bank foreign exchange (FX) transaction portal Centradia has closed for business.
The portal—owned in part by Royal Bank of Scotland (RBS), Société Générale (SG), Banco Santander Central Hispano and San Paolo IMI—is said to have collapsed due to lack of support from shareholder banks. The decision to close the bank was taken at the end of 2004 after it failed to get financial backing from its funding banks. According to industry sources, the banks were asked to invest more
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