Transforex, Cross Rate Broker, Opens Its Doors To Install Lines To 30 Banks In N.Y., 20 In London
BROKERS
After several months of preparation, the newly formed brokerage house Transforex Capital Partners, L.P. opened its doors October 1. The well-financed start-up is hoping to gain a foothold in an already crowded industry by focusing exclusively on cross rates, one of the hottest segments of the foreign exchange market.
However, even specialized brokers may be facing an uncertain future given the glut of automated trading systems that have been introduced, and the handful that are still expected to
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