Debate Over Settlement Sparks Controversy At Sibos Conference
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MUNICH--The advent of continuous linked settlement to clear foreign exchange payments provoked controversy at the annual Sibos convention and exhibition in Munich earlier this month.
Speaking at a packed briefing, where many bankers displayed a lack of knowledge about the imminent arrival of CLS, Alan Jebson, general manager of IT at HSBC and vice chairman of the board of CLS Services (CLS), claimed that in future "you will either clear through CLS or you won't do FX business."
Other delegates
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