Brokers Launch STP System, Fire a Volley Over EBS' Bow
TRANSACTION SYSTEMS
LONDON -- Voice brokers Garban-Intercapital, Prebon Yamane and Tullett & Tokyo Liberty are launching a venture that could help the brokers steal back market share from dominant foreign exchange electronic transactions systems providers EBS and Reuters.
The brokers are launching a straight through processing system for currency trading called DDN (Direct Deal Notification). The system automatically matches brokers' buy and sell orders in spot, forwards and options FX. Orders are sent to banks for
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