Natexis Banques Populaires has become the first continuous-linked settlement (CLS) third-party participant in France.The bank has signed up with ABN Amro to use the global foreign exchange settlement system. ABN Amro said the Natexis is now processing about 420 trades on the CLS system a day, and it expects this to increase to about 550 trades a day.
CLS, which was launched in September 2002, is designed to settle trades on a net-funded basis over a period of time when country-specific real-time global settlement systems overlap.
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