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DWR joins Echo: Dean Witter Reynolds, the US-based investment bank, has signed up to join the Exchange Clearing House (Echo), a multilateral foreign exchange netting service. Echo officials say DWR is the first North American institution to join the service. London-based Echo's previous clients were all headquartered in Europe or Asia.

Multinet International, a rival US-based multilateral foreign exchange netting service, has recently received regulatory permission to start its operations. It

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