Santander live as settlement member
Santander has been a shareholder in CLS since 2002 and a third-party participant via Citi since October 2003. However, following the default of Lehman Brothers, as with all third-party CLS providers, Citi revaluated its relationships, with clients such as Santander and Nomura seen as large enough to join directly as settlement members (FX Week July 19).
Alan Bozian, chief executive of CLS Group in New York said: "Once again, this illustrates the crucial role CLS plays in the growing foreign
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