Switching on CLS
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As the continuous linked settlement initiative prepares for a delayed launch later this year, firms that have been involved since the beginning outline how they hope to recoup and build on their investments.
It’s no secret that continuous linked settlement (CLS), the proposed system for reducing settlement risk in the foreign exchange markets, has been fraught with delays and difficulties. But nearly five years after it was announced in June 1997, CLS Bank and participating settlement members are
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