Singapore banks link up for CLS settlement


SINGAPORE -- Three Singaporean banks will go live this December with a joint back-office processing link to the continuous linked settlement (CLS) service for currency markets. DBS Bank, OCBC Bank and United Overseas Bank developed the project, called Caps (Clearing and Payment Services), to share the costs of developing connection to CLS, which launched on September 9.

"The pressures of competition and scale force the Singaporean banks to come up with innovative ways of reducing costs," said

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: