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Schwab, Barclays Plan Foreign Exchange Venture
Updated from 8:46 a.m. EST
Charles Schwab (SCH Quote) and British bank Barclays (BCS Quote) plan to set up a foreign exchange facility that will enable investors outside the U.S. to buy and sell securities denominated in different currencies.
Investors can use Schwab's online brokerage services to buy and sell securities in different foreign markets -- currently a cumbersome process -- without separately negotiating foreign exchange contracts. ...
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