A foreign exchange transaction reporting system (FXTRS) for central banks

This paper builds on our 1996 work, “Introducing Competition to Global Currency Markets” 1], with respect to recent developments of the international capital and foreign exchange markets. Recent proposals are reviewed relevant to the desirability of a new architecture or structure to improve the operation of these markets. We propose in greater specificity than in our earlier paper a Foreign Exchange Transaction Reporting System, (FXTRS^sm), whose specific technological features will supplement the beneficial affects of non-technological methods proposed by ourselves and others to stabilize and improve these markets, while reducing their social and environmental costs. Patents are pending on the FXTRS^sm and royalties earned will be donated to the United Nations by the authors.