CBA completes first phase of FX systems overhaul


Commonwealth Bank of Australia (CBA) is set to complete the first phase of a major overhaul of its foreign exchange systems this week as its Baxter electronic FX platform goes live and replaces the incumbent system.

The Australian bank is replacing all of its FX systems as part of a long-term initiative dubbed Project Falcon. The Baxter system will centre on improved access to third-party liquidity providers, better pricing and reduced latency.

"Phase one is about us connecting our customers to

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