Banque Paribas Signs Up For Echo Hard On Heels Of Norwegian Banks

DEALING & NETTING

Officials at the Exchange Clearing House (Echo) announced last week that Banque Paribas has signed a letter of intent to join the FX multilateral netting group. The Paribas decision to join comes shortly after two Norwegian banks, Christiana Bank and Den norske Bank, signed up for the service (FXW, January 8).

A Paribas spokesperson says that the bank has been looking at Echo since it started operations in August and that it agrees with the principles behind Echo. The move of Paribas's FX int