Fxall Still a Concept Lacking Technology, But Six More Banks Have Joined
TRANSACTION SYSTEMS
NEW YORK--Fxall, a bank alliance that plans to deliver FX trading and services electronically, has signed up six more banks. Meanwhile, critics say the system is still largely a concept, noting that no underlying technology has yet been chosen.
A transaction system vendor says, "Fxall at the moment is a press release. They’re still looking for technology." He adds that if Fxall is to be up and running by the end of the year, the technology needs to be in place within a month or so.
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