FXall, a New York-based foreign-exchange trading platform, has put in place contingency plans to handle a potential euro disintegration, The Wall Street Journal reports. The electronic platform is telling customers to be prepared to change their settlement instructions for additional currencies.
The firm had chalked out detailed contingency plans and was ready to quote any modifications to currency pairs, according to Mark Warms, general manager for Europe at the firm in London. The firm had the capacity to add currencies and convert legacy euro trades, he added.
Click here for the story from The Wall Street Journal.