For Continuous Linked Settlement (CLS), the industry-backed foreign exchange settlement system with a history of delays and glitches, its launch in September was decidedly a non-event. To the relief of most participants, the system not only worked, but it has continued to work, allowing its 39 settlement members to settle some 10,000 instructions per day with a gross value of over US$100 billion.
"It’s been surprisingly good," says Wayne Ferguson, vice president of global cash management at
To continue reading...
Start a Risk.net Trial
Register for a Risk.net Business trial to access this article. Sign up today and get access to: