SunGard cites slow portal take-up as it closes multi-bank FX

The US firm said it had merged STN Treasury, the unit that houses the forex portal, with its eTreasury exchange (eTX) into one unit, to be called eTX STN. That means clients will still be able to request forex prices from banks hooked up to both STN Treasury and eTX, but the multi-bank pricing capability is no more.

Greg Pond, group chief executive officer of SunGard Treasury Systems, said the move was in response to the industry’s slow take-up of portals - a factor that has already contributed

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