Deutsche Bank Drops Out Of ECHO More To Come As Banks Mull Plan?


In a blow to the European Clearing House Organization (ECHO), a spokesman for Deutsche Bank confirms that the bank has decided not to go forward in funding the group's ambitious project to set up a multilateral forex netting system. The 19 banks which have been participating in the project thus far have been asked to decide whether to come up with £20.6 million among them to fund its development by February 28.

Presuming that Morgan Guaranty Trust also withdraws (FX Week, January 31),

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: