The curious case of Pure FX
The project, dubbed Pure FX, has, according to press reports, the backing of 10 top foreign exchange dealers and could be in the process of targeting technology vendors to build the system this week. The news seems to have come out of nowhere, particularly as discussions to that affect have been ongoing in some form or another for years and perhaps with renewed vigour over the past 18 months.
It is thought that leading the discussion is Deutsche Bank and to a lesser degree Barclays Capital. The
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