Banks abandon Pure FX - their joint forex platform

A group of top currency-dealing banks has delayed plans to launch a new banks-only trading system, opting to wait until the regulatory environment for foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term becomes clearer in the coming months, two people familiar with the matter told Dow Jones Newswires.

According to Dow Jones, citing sources, the banks had planned to announce FXPure within the next two months. This has now been put back in the hope that the regulatory environment will become clearer in the next few months. The project is "definitely not dead" one person told the wire.

Reading between the lines it's pretty much clear that the project is dead. I was skeptical back in December when this plan was announced and now I'm pretty sure it's all but over. I just don't see how banks can agree on anything, even if it makes a lot of commercial sense. The death of FXMarketSpace in 2008 was a strong enough indication that this is never going to be easy. Now we have another good project which we can only read about in Wikipedia.