Prime brokers pilot FXall message service

Seven banks have signed up to pilot the service, said Mark Warms, chief marketing officer at FXall in London. ABN Amro, Bank of America, Credit Agricole Indosuez, DrKW, HSBC, Lehman Brothers and RBS are all helping to develop the system prior to launch.

Messaging between counterparties is managed by the standalone confirmation and netting facility Settlement Center, integrated to users’ order management systems. This ensures details of prime brokerage deals, even those not executed through F