LOOSE CHANGE

LOOSE CHANGE

Nordbanken in Sweden, Okobank in Finland and Banque Paribas Belgique in Belgium have issued letters of intent to use Echo, the multilateral FX netting scheme. This brings to 40 the number of banks either currently using or having expressed the intention to use Echo. Meanwhile, Banque Paribas in France began live operation last week through its branches in Paris, Singapore and Tokyo. The bank's Hong Kong branch will begin using Echo next week, bringing the number of live branches to 38, say