an electronic transaction processing service in Bermuda, has so far remained silent about what it plans to set up in Bermuda.

The Royal Gazette published a short news item about the company earlier this month after a London-based spokeswoman said she would provide details later.

After more enquiries no information has been forthcoming. The company's Internet site bills EBS as the world's largest interbank brokers in the world.

The company states that there are currently 800 banks around the world using 2,500 EBS workstations to trade in 20 currency pairs.

"In a short space of time, electronic broking has shifted the entire complexion of trading within and between banks,'' company chairman Peter Bartko said. "With an increasing trend towards consolidation, and within individual banks, a focus on optimising dealing resources and achieving ever-higher levels of cost-efficiency in the trading environment, we hope and expect electronic broking to continue to grow in its relevance and importance to the foreign exchange industry and, indeed, to other financial markets.'' Banks currently conduct $90 billion in global spot foreign exchange transactions through EBS, which is based in London. Customers include all the world's 13 top banks. The banks helped fund the development of the system in competition with Reuters.