Australia and New Zealand Bank (ANZ) is to join the Internet-based foreign exchange trading portal Currenex.
With ANZ online, Currenex claims more than 25 banks actively providing liquidity on its foreign exchange trading service, FXtrades. The FXtrades marketplace provides price discovery and trading and settlement facilities in a multi-bank environment for large corporate currency traders.
Lori Mirek, Currenex CEO, says ANZ's decision to participate in the service "confirms our strategy to provide corporations and banks worldwide with an independent, open exchange that utilises efficiencies offered by the Internet."
Chris Cooper, global head of foreign exchange, ANZ Investment Bank, says: "Our decision to join Currenex is a natural development of our strategy to provide our customers with a complete range of electronic execution applications for FX products and services."
Corporate members of Currenex include MasterCard International, Intel Corporation and recent recruit Shell.