Chase/JP Morgan Merger Puts Question Mark Over Fxall Alliance
TRANSACTION SYSTEMS
LONDON--The Chase Manhattan takeover of JP Morgan leaves the future of Fxall, the proposed multibank foreign exchange Internet site for corporate and institutional customers, in question.
A large part of the impetus for the creation of the consortium of participants in Fxall came from Labmorgan, the e-commerce arm of JP Morgan. The temporary premises of Fxall are housed in the bank’s main offices on Wall Street, and its interim chief executive officer is Phil Weisberg from JP Morgan’s Labmorgan.
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