International Assets buys Global Currencies

Global Currencies is a non-bank forex provider that procures foreign currency for over 250 non-profit organisations, including the United Nations, non-governmental organisations and agencies in over 100 emerging market currencies. Its annual trading revenue was approximately $5.5 million for 2003. The company retains its dollar cash deliverable and debt conversion businesses.

The purchase twins Global Currencies’ FX group with a similar, though embryonic, model at Intl, which began trading in Jul