CLS launches two new membership categories
Non-shareholder members will pay a fee to gain equal rights and access to the system as CLS shareholders
Settlement utility CLS has introduced two new forms of membership, alongside its existing shareholder and central bank settlement categories, in a bid to boost engagement and allow a broader group of institutions to work with the company.
The new options will be affiliated settlement and non-shareholder settlement membership.
The affiliated model will allow an institution within a corporate group to become a settlement member, benefitting retail and investment banking divisions or bank
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