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The Exchange Clearing House (Echo) started operations last week with a staff of 50, according to chief executive Graham Duncan, who was seconded to the project by Barclays Bank some five years ago (see page one). He says the clearing house's management team consists of Alan Wilson, head of operations, Peter Davies, risk-management and finance director, Niul Dillon Hatcher, legal director, Kay Preddy, IT director, and David Troup, head of member services.

Don Lawrence, head of spot trading

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