Consolidation Begins?

Trotta, Elizabeth
January 2007
Investment Dealers' Digest;1/29/2007, Vol. 73 Issue 4, p9
Trade Publication
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.


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