JP Morgan Chase Drops FXall

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NEW YORK -- FXall chief executive Phil Weisberg has told FX Week that JP Morgan Chase’s ratification of rival Atriax as its foreign exchange trading portal would not be a blow to FXall.

An announcement to clarify JP Morgan Chase’s position had been expected since September, when JP Morgan agreed Chase Manhattan’s takeover bid. The tie-up left the combined bank as the only bank holding equity in the rival portals.

"JP Morgan Chase has selected Atriax as its multi-bank foreign exchange portal,"