A group of lenders has postponed its plans to launch a new banks-only trading system, The Wall Street Journal reports. The project, known as FXPure, has been delayed, as banks are seeking to wait until the regulatory environment for foreign exchange becomes clearer.
The new offering was designed to give banks a way to deal currencies between them, with no involvement from funds. Lenders including Deutsche Bank, UBS, Barclays Capital, Citigroup, RBS, JP Morgan Chase, HSBC Holdings, Goldman Sachs and Morgan Stanley were backing the initiative.
Click here for the story from The Wall Street Journal.
