e-FX systems remain robust

TECHNOLOGY NEWS

NEW YORK -- Customers trading foreign exchange executed a larger proportion of their trades on e-FX systems last week, as problems continued with telephone lines in New York after the September 11 terrorist attack.

Officials at banks and e-trading services told FX Week that volumes traded electronically had remained robust -- despite the overall reduction in the currency markets as a whole.

"Activity is normal on our systems," said Richard Estes, head of FX e-commerce at Bank of New York,

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