CLS Goes Live with NDF Settlement Platform
The new platform was developed by London-based technology vendor LogicaCMG over the past two years, using thin technology, says Jonathan Butterfield, executive director at CLS in New York. This compares to the legacy technology used for settling spot FX trades developed by IBM. "This allows us to add products more easily and quickly," he adds.
In terms of FX products, this will see the inclusion of options premium settlement in the third quarter of 2008, says Butterfield, who declines to
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