CLS completes first trials
TECHNOLOGY NEWS
LONDON -- CLS Bank International has completed the first phase of live trials of Continuous Linked Settlement, the industry-led initiative designed to eliminate settlement risk in the FX market, the firm announced last week.
The trials were conducted on an end-to-end basis, taking in the whole CLS process, and involving real-value instructions for payment using all seven currencies available on the system. During the trials, 11 ‘pilot shareholder banks’ were involved and have successfully handled
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