FXCT project signs up 10 partners

Galinov-led central tape initiative expected to go live this year

dmitri-galinov
Dmitri Galinov: "We have six slots open and we are getting very positive feedback"

The Foreign Exchange Central Tape (FXCT) initiative, spearheaded by FastMatch chief executive Dmitri Galinov, is "progressing well" and expected to go live later this year, with 10 of the 16 available founding partner slots filled.

The project aims to create a reference rate using a ‘last sale' data feed, which the partners will submit to FXCT to be published "near real time" or at the end of the trading day in exchange for a monetary rebate, he says.

Following the initial excitement surrounding

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