AFME will form global body for foreign exchange industry

06/1/2010 | Wall Street Journal, The

JPMorgan Chase, Goldman Sachs, Deutsche Bank and other major banks involved in foreign exchange are joining forces with AFME to create a representative body, called the AFME FX division. "An efficiently functioning foreign exchange market is one of the cornerstones of the global economy and needs to play its part in supporting economic recovery and sustainable growth," said Mark Austen, acting CEO of AFME. "AFME is pleased to be providing the framework for the market's participants to work together with this aim."

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