J.P. Morgan Likely To Pull Out Of ECHO By Late February Commitment Deadline


J.P. Morgan, which helped sink the North American Clearing House Organization's (NACHO) plans to launch a multilateral netting scheme when it pulled out of the project last year, is now expected to pull out of the European Clearing House Organization (ECHO) come February.

Although a spokesman there insists that the bank is still officially part of the ECHO project and its name is listed in the proposal as one of the "founder members," the bank's objections to NACHO's inclusion of longer-date