FXall portal goes live

A global transformation of the foreign exchange industry began yesterday with the launch of FXall, a fully automated portal for online foreign exchange dealing. Fourteen banks and their customers have initally gone live, however, another 17 banks announced earlier this year it had agreed to act as liquidity providers on the portal, bringing the total to 48. FXall - which is owned by 14 financial institutions - is a single internet portal which allows for multi-bank access and has the facility to view the price of currencies from several banks simultaneously. The seamless computer-t...