FXNET Eyes Japan, Singapore And Hong Kong Asian Network Live By First Quarter 1991?

TECHNOLOGY

FXNET, a London-based bilateral foreign exchange netting system, is in the process of setting up an Asian leg which would allow member banks to net trades in all three of the most active trading centers in the world. FXNET says that it hopes the Asian link will go live in the first quarter of 1991.

FXNET chairman Peter Bartko says that branches of Citibank, Chemical Bank, First Interstate of California, Bank of America, Union Bank of Switzerland, Chase Manhattan and Manufacturers Hanover

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