JP Morgan live on FXSettle
The US bank began settling client trades on the system in February, alongside Citi, when the system went live. Meanwhile, UBS began settling trades over the system last month (FX Week, March 31).
The system was developed as an alternative system for settling foreign exchange trades over FXMS, in an effort to tackle risks and costs associated with settling trades from high-frequency traders. It provides an alternative settlement model to industry utility CLS, which has come under fire for its high
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