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| Tekijä: | Murphy, P. |
| Otsikko: | Foreign Exchange Netting Slow off the starting-block |
| Lehti: | Banker
1988 : JUNE, VOL. 138-748, p. 47 |
| Asiasana: | FOREIGN EXCHANGE BANKING PAYMENT SYSTEMS |
| Kieli: | eng |
| Tiivistelmä: | Review of the use of netting by banks in settling payment for transactions, related to rise in the volume of foreign-exchange trading. Meeting of 23 banks in London to assess the concept in 1984. Views of advocates of netting. How netting by novation replaces each foreign-exchange contract by updating and one single payment obligation at settlement. Need for a legal base and actual system. The FXNET system format and SWIFT standard. 15 London banks now use netting by novation and those absent. Praise for the system. |
SCIMA