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.
More on Foreign Exchange
Target redemption forwards declining in popularity for macro reasons
EC ‘forgets’ to mention sterling in letter defining forex contracts
Target redemption forwards with capped loss structure set for launch
CNT fixing will be a boon for Taiwan’s derivatives market
Sign up for Risk.net email alerts
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
Nominated for two technology awards
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.