FXall appoints CTO in lead up to launch

FXall, a global electronic portal for foreign exchange trading, has appointed Jack Lemonik as its chief technology officer.

Lemonik has been hired from Citigroup subsidiary CrossMar in New York where he was vice president, product development chief technologist.

FXall is a bank-backed initiative to develop a multi-bank price discovery and trading channel for large corporate currency dealers over the internet. It is competing with rival bank-backed initiative Atriax, to be the first to launch against established third party portals such as Currenex.

Atriax says it is in the middle of a testing process that will see it launch by the end of Q2. FXall had announced it would launch in Q1, but with Lemoniks appointment and the roll-out of Cognotecs FXall Connect the software that will connect banks to...

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