UAL Merchant Bank, the investment banking subsidiary of South Africa's Nedcor banking group, has gone live with the middle- and back-office modules of New York-based Zainet Software's foreign exchange options system. The bank is now planning to implement a single front-office trading system to cover all its domestic and international treasury business, officials say, which includes trading in money markets products.

UAL began trading currency options around nine months ago, says Steve Chambers

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