Banks and ECNs join forces to prevent FX flash crash

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Four leading foreign exchange prime brokers and a number of electronic communications networks (ECNs) are set to join forces with the help of post-trade connectivity firm Traiana to monitor high-frequency trading activity and avoid a possible flash crash in the foreign exchange market. "We're honoured to play an instrumental role for the forex community in this initiative, and look forward to expanding central credit risk capabilities to new asset classes," says Gil Mandelzis, chief executive