Sibos: market must clear processing bottleneck
The successful launch of the CLS settlement system, the growth of electronic trading, prime brokerage and the proliferation of electronic communication networks (ECNs) were cited as reasons for the explosive growth in FX trading volumes in the past decade and the cause of major back-office constraints.
All panellists agreed a processing bottleneck has developed, except Robert Close, chief executive of CLS, who suggested action was needed to prevent a possible bottleneck in the future.
"If we don't
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