Turkish Banks Plan Rival System To Reuters Dealing 2000 Service

DEALING & NETTING

The Turkish Foreign Exchange Association is close to making a decision on whether to press ahead with plans to transfer domestic currency dealing from Reuters Dealing 2000 to an alternative system, officials say.

The association hopes that it will reduce costs for domestic dealing by as much as 80 per cent -- a saving that could amount to as much as $69 million over the next five years.

At a meeting last November 13 banks which belong to the Forex Association agreed to sponsor the development

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