Brussels, 02/08/2000 (Agence Europe) - The European Commission has approved the creation of a joint-venture between the subsidiaries of six major banks (Deutsche Bank UK Holdings Limited, UBS AG, Goldman Sachs Vol-Holdings LLC, Citibank Investments Limited, JP Morgan and Natwest). Called Volbroker.com, the new company will provide the first brokerage service to bring automated trading among banks in foreign currency options. The Community competition authorities approved the project on condition that the founding companies agree to allow so-called voice brokers to participate in the Volbroker.com system where they are acting as principles. The six partner have also provided several assurances in view of avoiding an exchange of sensitive confidential information from a commercial point of view, i.e.: i) none of Volbroker.com's staff or management will have any contractual or other obligation towards an of the Parents and vice-versa; ii) Volbroker.com's staff and management will be in a geographically distinct location from that of the parents; iii) the representatives of the Parents on Volbroker.com's Board of Directors will not have access to commercially sensitive information relating to each other or third parties; iv) the Parents will have no access to the information technology and communication systems of Volbroker.com; v) the Parents will ensure that the staff and management of all the parties understand and appreciate the importance of maintaining the confidentiality of commercial information and that sanctions for breach are spelled out.