Corporations Lag Behind In Preparing For CLS System
NEWS
LONDON--Only 12.5 per cent of large corporations are actively preparing for the arrival of the much-delayed Continuous Linked Settlement (CLS), the real-time global settlement system that promises to eradicate settlement risk in foreign exchange (FX), a new survey reveals.
CLS is owned by around 60 banks, and operates under the name CLS Services. The organisation has commissioned the Society for World Interbank Financial Transactions (Swift) and IBM to construct the settlement system. CLS
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