LOOSE CHANGE

LOOSE CHANGE

Westpac Banking Corporation has issued a Letter of Intent to use Echo's (Exchange Clearing House) multilateral netting service, becoming the first Australian bank to join. "Our decision to join Echo was fundamentally a strategic decision," says Phil Coffey, global head of foreign exchange at Westpac. "Westpac is looking to address the issue of FX settlement risk as highlighted in the March 1996 BIS report. We believe that multilateral netting through Echo will enable Westpac to manage and c

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: