First Chicago finally got approval from the U.S. Comptroller of the Currency to launch its currency fund, officials at the bank confirm, though no launch date for the fund or details have yet been revealed. "We are at advanced stages with our legal documentation," says Britt Swofford, a senior vice president at the bank, who confirmed that the initial offering would be an offshore currency fund, but declined to comment further.

Reuters Holdings PLC launched Fx Calc in the U.K. and Ireland August

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