JP Morgan replaces AIG on Currenex
Concerns over the future of AIG, one of the world's largest insurance companies, prompted banks to stop trading with the company at the start of this week in a bid to limit exposures, following the collapse of Lehman Brothers on Sunday, September 14.
"We are going to go live tonight with a sub-set of clients to make sure JP Morgan is comfortable with the flow and then ramp that up," said a senior Currenex official.
The official added the company has been looking to enhance credit on Currenex for
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