FIVE YEARS AGO IN FXW

- By FX Markets Staff
- @FXMarkets_
- 19 Jul 1999

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Echo Launch Delayed until September While Multinet Files Application to Fed

The European Clearing House Organization (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, US-based rival Multinet last week submitted its final application for approval to the Federal Reserve with encouragement from

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