FIVE YEARS AGO IN FXW

FIVE YEARS AGO IN FXW

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 regul