Multinet Gets Closer to Fed Approval For Multilateral FX Clearing House

DEALING & NETTING

Multinet International has moved one step closer to achieving its goal of creating a foreign exchange clearing house for multilateral netting in North America, officials say.

Multinet recently received from the Federal Reserve Banks of New York and Chicago a set of questions about its application to create Multinet International Bank, according to Garrett Glass, Multinet steering committee chairman and head of risk management at First National Bank of Chicago (FX Week, July 18). Multinet inv

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