LOOSE CHANGE
LOOSE CHANGE
The G20 estimates the cost of setting up CLS Services, the private UK company that will develop a real-time system for settling FX transactions, at around $90 million, up from the previous estimate of $40 million, sources close to the group say. Rob Close, programme director for the G20, says the initial estimate was tentative and the group is currently reassessing the cost of the venture.
Bankers Trust Australia in Sydney has signed a letter of intent to join FXNet, and expects to be live with
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