A Better Way To Clear FX Trades

Here is the article:

http://www.euromoneyfix.com/Article.aspx?ArticleID=2009629

Spreads are looking abysmal too.

 

And no volume.

Thanks for the link, I liked one of the reader's comments "...it (FXMS) was a solution looking for a problem...", lol

 

If you want a laugh, read the whole sorry saga. The editor has made them all free, I think. Quite proud of the headline, Is it squeaky bum time for FXMS? posted shortly after its damp squib of a launch.

I'll write its full obituary when/if its offically closed. What are teh chances it rries to make something out of FXSettle?

http://www.euromoneyfix.com/Article.aspx?ArticleID=2010393

BE LUVLY!

 

Unfortunate news..

FXMarketSpace To Shut Down

http://www.securitiesindustry.com/news/22883-1.html

“Centralized counterparty clearing was not compelling to corporations and hedge funds--major players in the FX space--whose relationships with their banks go far beyond FX dealing,” said Laurie Berke, senior consultant at New York-based Tabb Group. “Further, the transaction-based fee model of the exchange came up against the tradition of the dealer spread model.”

Yes they love that dealer spread model don't they..


Interesting juxtaposition:

So one central clearing endeavor failed and they're already off to the second one..