Industrial Bank Of Japan Pioneers Late Night Foreign Exchange Trading In Tokyo Market
BANKS
Industrial Bank of Japan (IBJ) has become the first Japanese bank in Tokyo to accept orders for foreign exchange trading until 1.30 a.m., when it is 5.30 p.m. in London and 12.30 p.m. in New York, officials claim. However, some sources see the move as further evidence of the decline of Tokyo as a foreign exchange trading centre in its own right. In the past night trading has only been offered in Tokyo by foreign bank branches, including Citibank and Chase Manhattan.
Until IBJ extended its hours
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