CLS hits $1 trillion mark in just over three weeks of operation
LONDON -- Continuous Linked Settlement (CLS), the banking initiative to cut settlement risk in currency markets, settled currency trades worth over $1 trillion in just over three weeks after going live on September 9. Settlements were running at more than 10,000 a day with a gross value of over $100 billion, the CLS Bank said in early October.
There have been a few "minor difficulties" but they have not had a real impact on CLS and the system has experienced 100% settlement success since being
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