Bear Stearns Forex, the foreign exchange trading subsidiary of Bear Stearns, the US bank, has become the first foreign exchange institution to join the online foreign exchange trading service operated by Forexster.com, the Bermuda-based privately held company.

The Forexster trading application provides online FX dealing services that are open to all participants on an equal footing. All participants in the service can trade with each other without the need for direct credit relationships.