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

摘要

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 spe- cific 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.