(March 7 – 10:05 ET) – Charles Schwab Corp. and Barclays PLC have announced plans to develop a fully automated foreign exchange facility that will make it easier for investors outside the U.S. to buy and sell securities denominated in different currencies.
Online trading is flourishing in international markets, says Schwab, and investors are looking for opportunities outside their home markets. With this foreign exchange facility, Schwab intends to provide its customers with a seamless end-to-end trading ability.
Barclays’ investment banking division, Barclays Capital, will provide forex pricing and executions. The firms expect to have the new system up and running by the fourth quarter of 2000 in the U.S., with rollouts in other countries proceeding after that.
-IE Staff