The proliferation of trading Web sites promises to eat away at yet another hallmark business of the nation's money-center banks - foreign exchange.

Two Internet services, known as "aggregators" or "auction" sites, have sprouted up in recent months and include the participation of large U.S. and foreign banks. Underscoring the trend are findings from a survey by the Connecticut consultant Greenwich Associates, which predicts that Internet foreign exchange trading will double in the next two years - from 11% of total volume to about 22%.

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