FXall.com to take all?

The battle for the forex market dominance has begun and combined venture FXall.com has taken the first shot.

A new online forex trading venture is promising to create a fierce battleground for electronic forex trading. FXall.com, due to launch at the end of this year, has already attracted sizeable investment from heavyweights Bank of America, Credit Suisse First Boston, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley Dean Witter and UBS Warburg

The new service aims to offer multinational corporations, institutional investors, and other wholesale users of foreign exchange products and services, 24-hour access to the global forex market - the world's largest financial market - via the internet. It hopes to capture a large part of the $1.4 trillion in transactions that take place daily...

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