Multilateral Netting Tests Begin In North America ICSI Now Collecting FX Data From 11 Banks
BANKS
The first multilateral foreign exchange netting system has moved into a testing phase in North America and may be up and running by the middle of next year, according to officials involved with the project.
"In theory, we would like it to begin in June of 1991," says Jack Foster, vice president at Morgan Guaranty Trust Co., one of the two banks that initiated the project. But he notes that "we are still at the feasibility study stage, so there's not a definite decision that we would go ahead."
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