FXall, the electronic foreign exchange portal, has announced positive cash flow in the second quarter of 2003 after recording record volume flows.
Total volumes for June reached $223 billion, equivalent to $10.6 billion a day. FXall also recorded its largest single day of trading with $16 billion.
"These figures reinforce our leadership position," says Phil Weisberg, CEO of FXall. "The sustained surge in volumes over the past year has enabled us not only to achieve positive cash flow, but also to accelerate our business plan."
One aspect of the business plan was to achieve positive cash flow by the fourth quarter of 2003. FXall, which was created in May 2001, has now hit that target with two months to spare.