CLS continues efforts to reduce systemic risk in FX
Global regulators remain keen to see the industry make further progress on the mitigation of settlement risk, says David Puth, CEO of CLS
For the global currency markets, 2015 began with a spike in market activity following the Swiss National Bank's removal of the currency peg against the euro. The unexpected decision to unwind this policy triggered extraordinary volatility in the Swiss franc and related currency pairs.
In the hours that followed, the decision would prove to be a unique test to gauge the robustness, stability and technological capacity of electronic trading systems, platform providers and the market's
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