CLS squares up to member onboarding challenges
Having added Swedbank and Lloyds as settlement members in the past two years, CLS has committed itself to further expanding its membership and its currencies
Foreign exchange central settlement utility CLS has repeatedly emphasised its intention to grow the number of currencies and institutions it covers, as the foreign exchange market comes under increasing regulatory pressure to ensure sound risk management. But clear challenges lie ahead in expanding the CLS universe.
While the complexity of adding currencies has been well-documented, adding settlement members can also be an arduous process. Since CLS launched in 2002, it has grown the number of
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