CLS/Traiana trade aggregation service live
CLS and Traiana have gone live with a trade aggregation service, developed jointly with eight founding banks.
The service aims to reduce operational risk, lower post trade costs and rationalise and consolidate legacy post-trade processes throughout the global FX markets, the vendors said. Only aggregated trades will need to be processed and settled in CLS, providing settlement risk elimination while alleviating the processing burdens on participating banks by more than 90%.
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