JP Morgan signs up 18 CLS third-party customers
JP Morgan Treasury Services, a unit of JP Morgan Chase, has signed up 18 third-party service customers to allow them access to continuous linked settlement (CLS). The third-party service contracts allow counterparts to settle their foreign exchange trades via JP Morgan on CLS, where JP Morgan is one of the system’s 39 settlement members.
Earlier this month, RiskNews’ sister publication FX Week reported that HSBC has signed up to 19 third-party CLS clients and Citigroup has nine such agreements.
The long-delayed CLS project went live for settlement members on September 9.
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