CLS Completes Beta Testing
NEWS
NEW YORK -- Continuous Linked Settlement (CLS), the industry initiative aimed at reducing FX settlement risk, has completed beta testing and will launch with 20 banks in October 2001, a spokesperson in London told FX Week.
"CLS is moving to the next phase of testing -- testing members' systems in trials with 20 banks," the spokesperson said. "Everything is going according to plan."
The announcement follows the addition of five new banking shareholders in late March. The addition of Banca Intesa
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