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Banks Roll Out New FX Technology As Arms Race Heats Up
Around half of the biggest 10 banks in foreign exchange are overhauling their trading technology in a bid to stay at the top of the business, as competition in this newly favored market cranks up a notch. Citigroup Inc. (C) and Royal Bank of Scotland Group (RBS) have rolled out brand new technology in the past few weeks. Deutsche Bank AG (DB)--the market's biggest--and UBS AG (UBS) are set to follow suit soon, while Barclays Capital (BARC.LN) and Morgan Stanley (MS) are constantly making tweaks to already-snazzy technology. It all goes to show while margins are tiny in this vast market, FX is still a bright spot for ... (full story)
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