CLS: on track for third- party launch in October
SPECIAL REPORT: CLS
LONDON -- Around 20 major banks are readying their third-party services to link clients to the continuous linked settlement (CLS) system in October, following the launch of the long-awaited forex settlement service on September 9.
CLS Group told FX Week that banks, including Citigroup, Deutsche Bank, UBS Warburg, JP Morgan Chase and ABN Amro Bank, which have passed the necessary trials, would be allowed to offer their client services "in the next few weeks". CLS Group is first awaiting a signal
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