Echo Aims For 1994 Launch Duncan Says At SIBOS

In a speech at last week's SIBOS conference in Brussels, Exchange Clearing House (Echo) chief executive Graham Duncan told attendees that Echo will not be launched until early 1994. In a well-crafted address quoting sources as diverse as Winston Churchill and Ian Fleming, Duncan gave an update on Echo's progress and urged new banks to join the multilateral netting scheme.

"Some of you may not believe that multilateral netting will be a reality," said Duncan. "To you I say this: if 14 major