Inter-dealer money broker, ICAP, is planning a pilot scheme for banks-only trading, The Wall Street Journal reports. The firm’s currencies-dealing arm, EBS, has offered the idea to some of its bank clients. Around 10 of the world’s largest currencies-dealing banks were planning a secret banks-only trading system late last year. The plans have been abandoned as of now due to details and clarity on the transparency required by regulators.
Click here for the story from The Wall Street Journal.