Banks and ECNs join forces to prevent FX flash crash

Robot

Four leading foreign exchange prime brokers and a number of electronic communications networks (ECNs) are set to join forces with the help of post-trade connectivity firm Traiana to monitor high-frequency trading activity and avoid a possible flash crash in the FX market.

"We're honoured to play an instrumental role for the FX community in this initiative, and look forward to expanding central credit risk capabilities to new asset classes," said Gil Mandelzis, chief executive of Traiana in New

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