Multilateral Netting Clearing Houses Near Start-Up Dates, Officials Claim
DEALING & NETTING
After more than five years of work, the two multilateral foreign exchange netting groups, Echo (European Clearing House Organisation) and the North America-based Multinet International are close to clearing the last few regulatory hurdles before commencing operations. Officials from both groups, which are run by bank consortiums, say they hope to start up before the end of the year.
Multinet executives were in London last week for one of a series of meetings with regulators and for a seminar with
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