Dealers welcome CLS JV
LONDON - The joint venture foreign exchange trade aggregation service set for launch by CLS and Icap is being met with cautious optimism from major dealers, with details of the project still unresolved.
The joint venture, announced last Monday (April 6), aims to reduce operational risks and post-trade costs by establishing a compression tool for interbank trades. The move is an attempt by the industry utility to resolve back-office capacity constraints and processing costs for FX prime brokers
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