Following cross-posted from Extropians: To: gnu.ai.mit.edu!Extropians Date: 02 Dec 92 11:31:59 EST From: Duncan Frissell <szebra!CompuServe.COM!76630.3577> Subject: If I only had $100K Bankers Trust has started a Global Settlement Fund to allow securities traders to make free funds transfers 24 hours a day. The Chicago Mercantile Exchange now accepts GSF shares in addition to cash and T-bills for settlement purposes. GSF shares will pay interest and there are no transactions charges for transfers. For now, the account minimum is $100,000 and participating institutions must have a link to Bankers Trust's New York operations center. The company plans to open similar funds denominated in Yen and Pounds Sterling. It also plans a BBS system which will allow traders to arrange forex exchanges with the holders of other currency shares 24 hours a day. Bankers Trust has targeted the Fed Wire that does 60 million transactions worth $200 billion a year but is slow and expensive. Now once such a system reaches the *retail* level we'll really have something. Duncan Frissell ******************************************************************************* * DUNCAN FRISSELL Attorney at Law, Writer, and Privacy * * CIS 76630,3577 Consultant since the Nixon * * Internet 76630.3577@compuserve.com Administration * * Easylink 62853962 * * Attmail !dfrissell * * TLX: 402231 FRISSELL NYK * * * * * Clinton Inaugural Sale - Any Question Answered for $9.99 * * * * ******************************************************************************* -- edgar@spectrx.saigon.com (Edgar W. Swank) SPECTROX SYSTEMS +1.408.252.1005 Silicon Valley, Ca
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