23 August 2017
Visit http://response.ncr.com

FXall achieves positive cash flow

09 July 2003  |  4186 views  |  0 FXall

Multi-bank foreign exchange portal FXall is reporting positive cash flow in the second quarter - six months ahead of plan - on the back of surging transaction volumes.

In June, FXall says total volumes reached $223 billion, representing an average of $10.6 billion per day. In the same month, the portal traded $16 billion in a single day of trading – the largest peak volume recorded to date.

Phil Weisberg, chief executive officer of FXall, comments: "The sustained surge in volumes over the past year has enabled us not only to achieve positive cash flow, but also to accelerate our business plan. There is now a huge momentum behind FXall, and we will build on it by launching new products, move into new asset classes, and extend the benefits of automation to thousands of new users."

FXall currently lags State Street's FX Connect in daily volumes, but has moved ahead of independent portal Currenex in the provision of corporate currency services.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Sumitomo Trust & Banking joins State Street's FX Connect

Sumitomo Trust & Banking joins State Street's FX Connect

04 July 2003  |  3339 views  |  0 comments
Cognotec data confirms electronic FX growth trend

Cognotec data confirms electronic FX growth trend

23 May 2003  |  3396 views  |  0 comments
State Street's FX Connect records $20 billion daily volume spike

State Street's FX Connect records $20 billion daily volume spike

19 May 2003  |  3510 views  |  0 comments
Fxall to offer instant messaging through Communicator Inc

Fxall to offer instant messaging through Communicator Inc

12 May 2003  |  3976 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.dorsum.euvisit www.abe-eba.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
12844 views comments | 27 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11469 views comments | 22 tweets | 34 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
10655 views comments | 21 tweets | 35 linkedin
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
10590 views comments | 22 tweets | 50 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
10589 views comments | 10 tweets | 8 linkedin

Featured job

Find your next job