CLS faces rival HKMA challenge
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The HKMA’s move to link its payment versus payment (PVP) system to Malaysia’s equivalent system should be a wake-up call to CLS, said Olaf Ransome, head of transactions development and support at Credit Suisse in Zurich.
He said: "CLS hasn’t made enough progress towards finding a solution to serve emerging markets currencies. Generally, utilities rely on consultation and being member-driven. Inevitably these kinds of wheels grind slowly. If you want speed you have to short cut the consultative
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