ICOR Brokerage expands FX options service to North America

ICor Brokerage Ltd.

October, 2002

ICor Brokerage Ltd., the 50/50 joint venture between Reuters and ICor Brokerage, has launched its foreign exchange options online brokerage service in North America. The service, Icor Brokerage FX Options, provides electronic broking of FX options to the foreign exchange market via the Reuters Dealing 3000 platform. Sixteen North American banks have gone live with the system and an additional 12 banks are expected to begin trading within the next two months. Trading is currently available in eight currency pairs. The service was launched in Asia Pacific in January 2002 and in Europe in July 2002. The North American launch is the final phase in ICor's global roll-out.
Jeff Larsen<br>Chief Executive Officer, ICor Brokerage Ltd, said: "The North American launch solidifies ICor's position. We have always maintained that the market is ready for purely electronic trading - obviously the traders agree. The ICor Brokerage system is fast, efficient and easy to use and our data confirms that traders across the globe are using it in increasing numbers