Continuous linked settlement delayed for currency markets


NEW YORK -- CLS Bank International, which aims to provide a continuous linked settlement service (CLS) for the world's currency markets, has again been forced to delay the launch of its service. The latest estimate for the start date of the CLS services is now around the middle of next year. It was earlier hoped the system would go live this October.

CLS services would enable simultaneous settlement of multi-currency payments and would thereby, say its proponents, virtually eliminate the

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