CLS to corner foreign exchange market
FRONT PAGE NEWS
Massachusetts-based research firm Tower Group has predicted that CLS trades will make up 83% of total member volume by the end of 2007.
The study also predicts that the percentage of third parties settling over 50% of their FX volume through CLS Bank is set to rise from 64% to 81% by the end of 2006.
Jonathan Butterfield, executive vice president of marketing and communication, CLS Bank International in New York, said the results were very positive. "Research shows the growth of CLS three years
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