Banks gear up for CLS launch
TECHNOLOGY NEWS
NEW YORK – Banks are preparing for the launch of the Continuous Linked Settlement (CLS) system for foreign exchange, due for launch in the second quarter of this year. And many will be ready to link up to the service at launch, should CLS Services deliver the long-awaited project on time.
CLS – aimed at eliminating principal risk in the FX market – was originally slated for launch in October 2000, but has suffered repeated delays due to technological glitches.
But with beta testing now
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