Echo Launch Delayed Until September While Multinet Files Application To Fed
DEALING & NETTING
The European Clearing House Organisation (Echo) has had to postpone its launch of multilateral foreign exchange netting - planned for this month - until at least the end of September, say insiders, because of a combination of technical problems and delays in regulatory approvals. However, U.S.-based rival Multinet last week submitted its final application for approval to the Federal Reserve with encouragement from regulators, according to officials.
Echo chief executive Graham Duncan has long
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