Brokers allocate $4.6 million WTC disaster relief

The world’s seven leading interdealer brokers have determined which charity funds will receive the $4.6 million they raised as disaster relief for victims of the World Trade Center terrorist attacks on September 11.

The nominated funds are: The Risk Waters World Trade Center Foundation, American Red Cross Liberty Fund, Twin Towers Fund, EuroBrokers Relief Fund and Cantor Fitzgerald Relief Fund.

The brokerages raised the money in October by contributing all brokerage earnings made during a single trading day. BrokerTec, EBS, Icap, GFI, Tradition, TFS and Tullett & Tokyo Liberty all contributed to the charity pool of funds.

Despite interdealer brokers Cantor Fitzgerald and EBS losing many of their key staff

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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