Natexis first CLS third-party bank 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.

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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