Banks back FXall prime brokerage messaging hub

ABN Amro, Bank of America, Credit Agricole Indosuez, Dresdner Kleinwort Wasserstein, HSBC, Lehman Brothers and The Royal Bank of Scotland are confirmed as participating in the hub.

The prime brokerage service will be made available through FXall Settlement Centre, which has 150 signed customers and currently handles thousands of messages a day. The automated system can be used for all prime brokerage trades - regardless of whether they are executed on FXall or through other channels.

Umran Zia, managing director and global head of FX prime brokerage services at Bank of America, said FXall was the logical choice to build an industry solution for prime brokerage. "It has a robust network infrastructure in place, and the success of 'settlement centre' demonstrates its ability to deliver industry standards for messaging," he said.

FXall's daily trading volume recently reached the $16 billion mark. In July, it was announced that the multi-bank platform had achieved positive cashflow.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here