You are here: silicon.com > Management > IT Director

Online currency trader comes under FSA spotlight

By editorial@silicon.com

Published: 6 August 1999 16:16 BST

The UK Financial Services Authority (FSA) is to investigate an Internet-based foreign exchange service which has yet to receive regulatory approval, according to reports in the Electronic Telegraph.

GlobalNet's Matchbook FX service, which is due to go live in the autumn, promises to allow surfers to buy foreign currencies at spot market rates. Investors will have to place a £6,000 deposit before being allowed to trade on the Freeserve-based site.

But an FSA spokesman said he has not made any specific comments on GlobalNet's case, while GlobalNet said it has every intention of seeking regulatory approval.

Add comment

Print story with

Email story

Italian Institute for Foreign Trade Improves Business Processes With Integrated Financial Infrastructure

Are Changes in Foreign Exchange Reserves well Correlated with Official Intervention?

Australian Department of Foreign Affairs and Trade

Thomas Cook goes online with foreign exchange service

In silicon.com

Commentary

Naked CIO The Naked CIO: Service level disagreements SLAs - not worth the paper they're written on?

silicon.com Dear silicon.com: Tech teacher shortage, Kangaroo and phones on planes Reader Comments of the Week

Latest News

Five ways Microsoft could change after Gates

CIOs not taking security breaches seriously

IBM puts money on solar power

Exclusive: UK's top CIO revealed

When is a supplier gift/junket inappropriate?

iPhone 2.0 - ready for business?

Jobs

Project Manager Foreign Exchange E-Commerce London

Project Manager Foreign Exchange E-Commerce London. One of Orgtel's major clients currently requires a highly skilled project manager to work within ...

Business Analyst ( OO , Java ) - London

Calypso provides a single turn-key Java-based platform for trading and trade processing and provides real-time, event-driven processing that enables ...

C#.Net Developer Investment Bank - London - 550+

Role for a c# developer to design and implement a next generation front-end client to support market making and market taking across asset classes ...

Special Report Focus

CIO50 2008
The silicon.com CIO50 2008 profiles the most influential and innovative tech chiefs in the UK across all industries and organisation size, from the biggest FTSE100 companies to high growth dot-com start ups and the public sector. The list was voted on by the UK CIO community and a panel of experts. Find out more in our latest special report.