Citicorp Forms CrossMar New FX Data Wholesaler

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Citicorp has formed CrossMar Inc., a separate legal entity, to collect and sell market data. Comprised of Quotron Systems Inc.'s former Global Treasury Systems (GTS) staff and products, CrossMar is offering a feed of foreign exchange rates from some 30 banks in North America and Europe, and real-time Treasury prices from interdealer-broker Garban Ltd., as well as other fixed-income and precious metals data.

CrossMar has already begun marketing the as-yet unnamed feed to market data vendors,