UniCredito joins CLS Group
TECHNOLOGY BRIEFS
The CLS Group, an industry initiative aimed at reducing FX settlement risk, announced that UniCredito Italiano joined the group last week.
UniCredito becomes the sixth major new shareholder this year to join the project, which now has the support of 62 financial institutions.
The bank will now apply to become a settlement member of the CLS Bank, the institution through which the group will settle all FX transactions made by any member of the group.
Luigi Parrilla, head of group treasury at
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