Letter to the editor


One would have thought that the wringing of hands and gnashing of teeth that followed Enron, WorldCom and Parmalat would have chastened corporate managements. Apparently not. Instead, the market has been immersed in a steady stream of reported misappropriations, misstatements and mistimings: Adecco’s “instances of local…irregularities”; Shell’s and El Paso’s reserve revisions; and, most recently, utility holding company DPL’s delayed filing and debt refinancing.

DPL’s case is worth a closer

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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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