Icor Brokerage begins North American trading

Icor Brokerage begins North American trading

Icor Brokerage has launched its foreign exchange options online brokerage service with 16 banks in North America.

The system, delivered as a joint venture between Reuters and Icor Brokerage, provides electronic broking of plain vanilla FX options to the foreign exchange market via the Reuters Dealing 3000 platform.

So far 16 North American banks have gone live with the system and an additional 12 are expected to begin trading within the next two months. Trading is currently available in eight currency pairs.

The service was initially launched in Asia Pacific in January 2002, where Icor has 25 banks actively trading, and in Europe in July 2002, where 20 banks are live. The North American launch is the final phase in Icor's global roll-out.

Thomas Demeo, vice president global foreign exchange options, Credit Lyonnais, comments: "After using the Icor system in Asia and Europe, we were impressed with its ease of use and functionality. We are looking forward to using Icor in New York as well."

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