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Multinet
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A currency transaction settlement and netting service operated by International Clearing Systems, Inc., an affiliate of the Options Clearing Corporation. Multinet is designed to prevent Herstatt Risk. A recent link with FXNET is designed to increase the scope and flexibility of the overall system. See also Multilateral Netting, Settlement Risk, Exchange Clearing HOuse (ECHO), Inter-Bank On-Line System (IBOS).
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