Trust & Custody Services Bank joins FXall

First Published: e-Forex Magazine 14 / News / April, 2004

Trust & Custody Services Bank (TCSB), the specialist asset administration arm of Mizuho Financial Group, has joined FXall as a liquidity provider. This means that there are now a total number of 47 banks providing liquidity to FXall. TCSB is one of Japan’s top asset custody trust banks, with more than ¥100 trillion of assets under custody. Its decision to become a liquidity provider reflects Japanese banks’ growing interest in online FX, and further strengthens FXall’s presence in the region. FXall’s Japanese business grew significantly in 2003, with volumes up 275 percent from 2002. More than 20 Japanese asset managers are now FXall customers.Phil Weisberg,CEO of FXall, said, “We are very pleased to welcome Trust & Custody Services Bank to FXall. As the benefits of automation become apparent, FXall has gathered a huge momentum in Japan. This will add further impetus to our growth among asset managers and corporates alike.”...continued

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