The CLS age dawns

Introduction

CLS certainly held the forex market’s imagination for a number of years, and is likely to continue doing so – at least until the settlement member banks recoup their initial investment in the project – but the market is also increasingly concerned with the emergence of hybrid products and the effects of consolidation.

JP Morgan Chase and Citigroup are just two of the banks making a concerted effort to more closely align their interest rates and forex business lines. Could the practice provide

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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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