Multinet And Echo 'In Merger Negotiations'
THE Exchange Clearing House (Echo) is working on plans to potentially merge with Multinet, the North American-based multilateral foreign exchange netting group, says a source at Echo.
This potential netting system merger will "achieve a reduction and the eventual elimination of forex settlement risk", the Echo source adds.
However, sources close to Multinet say discussions of a merger between the two parties are at a "preliminary" stage and it would be an "overstatement" to suggest an imminent
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