TITLE

Consolidation Begins?

AUTHOR(S)
Trotta, Elizabeth
PUB. DATE
January 2007
SOURCE
Investment Dealers' Digest;1/29/2007, Vol. 73 Issue 4, p9
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that State Street Corp. agreed to pay $564 million for Currenex which is an online foreign exchange platform that operates in the active trading segment of the foreign exchange market. Analyst Axel Pierron said that given the growth in the foreign exchange market, most onlookers did not expect to see a consolidation play. The Currenex platform is technologically better and more expensive to operate than State Street's existing FX Connect operations.
ACCESSION #
23884185

 

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