(March 15 – 10:00 ET) – Scotia Capital has joined Atriax, a global electronic marketplace for foreign exchange products and related services. The alliance should give Scotia Capital clients greater access to pricing and liquidity in a wide range of currencies.

Atriax launched its Web site in October 2000, containing Reuters market news and data, and aggregated research and currency forecasts from member banks. Dealing services will be launched in the second quarter of 2001.

Historically, forex trading was conducted over the phone between clients and dealers in the over-the-counter market. Now much of the business is going online, adding liquidity, boosting market efficiency and reducing administration costs.

“Our aim is to establish Atriax as the most efficient means to research, transact and settle foreign exchange business, and we are delighted to have Scotia Capital as part of our membership,” said Dan Moorhead, Atriax CEO.

“This venture represents another value-added product for our clients,” said Barry Wainstein, managing director & global head, Foreign Exchange and Money Markets, Scotia Capital. “Atriax will provide them with a single point of access to market news and data, aggregated research, online dealing and straight-through processing.”