Citi joins State Street's FX Connect liquidity pool
Citigroup, which failed in efforts to create a merger of e-FX portals FXall and Atriax, ahead of Atriax's collapse late last week, has joined State Street's FX Connect as a liquidity provider.
The move follows Citi's refusal to provide more financing to Atriax, which it co-owned with Deutsche Bank, JP Morgan Chase and information provider Reuters.
FX Connect is also a multi-bank FX electronic trading platform, which started multi-counterparty trading in March 2000.
Citi also joined rival FX portal FXall early this week along with Atriax's other main backers Deutsche and JP Morgan Chase.
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