EBS Forms Legal Entity, Moves To Widen Bank Participation
PROPRIETARY EXECUTION
The 11 U.S., U.K. and Swiss banks involved in the consortium to build the Electronic Broking System (EBS) have created a legal joint venture with Quotron Systems Inc. to develop and market their planned order-matching system for foreign exchange trading. The group is now talking to other banks about joining the project.
The agreement sets the stage for the next phase of the project: physical development of the system, which will be based on Quotron's F/X Trader transactional foreign exchange
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