12 Banks, Quotron Confirm System Development No Launch Date Set, Liability Issue Still Lingers
TECHNOLOGY
A group of 12 banks, many of whom are also members of the FXNET consortium, and Citicorp subsidiary Quotron Systems, Inc. confirmed reports published here (FX Week, May 17), that they are developing a foreign exchange order matching system. Protypes of the initial system are currently being tested by traders at those banks, according to a release from the group, but no official launch date has yet been set.
The 12 banks include Bank of America, Barclays Bank, Chase Manhattan Bank, Chemical Bank
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