CLS is 'changing the front-office'
More than three-quarters of CLS settlement members – those holding direct accounts with the settlement service – report seeing changes to the credit approval process for CLS counterparties.
This is taking the form of reduced use of credit limits – 59% of settlement members report this as a result of using CLS – and the elimination of settlement limits altogether for CLS counterparties, according to 15% of settlement members.
CLS expects these percentages to rise as use of the service increases.
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