FXall Rolls Out Money Market, Prime Brokerage Products

The e-forex platform, owned by 17 banks, plansa third-quarter rollout of an automatic notification system for money market trades within Settlement Center. This will be followed by the fourth-quarter introduction of the company’s prime brokerage solution that will allow real-time messaging through Trading Center and automatic notification of prime brokerage deals between banks through FXall’s Settlement Center.

FXall will charge a small flat fee per message and confirmation, a charge paid by the bank selling the currency to FXall clients, of which 57% are corporates.   Calculated using only the buy-side of a foreign exchange deal and counting only one leg of a swap, trading volume in March was $156 billion, with an average transaction size of $4.6 million.

The majority of trading takes place in Europe (55%) and most of the deals, 38.5%, are in the euro/dollar pair. Dollar/yen comes second at 12.1%, followed by dollar/sterling at 11.8%. America’s trading accounts for 34%.

Further information on FXall is available at  www.fxall.com .