Phase II Of Multilateral Netting Expected Soon For Nacho Banks
TECHNOLOGY
The North American Clearing House Organization (Nacho) has announced plans to begin simulating multilateral foreign exchange netting among its member banks using live data by mid-summer.
Nacho, whose members now do bilateral netting with one another, currently offers multilateral simulation, but using end-of-day settlement numbers instead of real-time data. This is the first phase of three planned phases to move from bilateral to multilateral netting.
For the second phase, staff at International
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