Continuous-linked settlement - The Asian connection

When CLS Bank International launched in September 2002 it included two Asian currencies – Australian dollar and yen – among the seven for which it offered foreign exchange settlement processing. Created to reduce settlement risk in the nearly $2 trillion a day currency market, CLS Bank has since incorporated the Singapore dollar in September this year and announced its intention to bring the Hong Kong and New Zealand dollars and Korean won onto the system in 2004. Since most forex trading in