CLS launches settlement for same-day USD/CAD trades
Foreign exchange settlement risk mitigation utility CLS will this week enable members to settle same-day trades in USD/CAD, marking the completion of the first stage of a project that was identified as a priority by regulators in 2008.
Same-day trades could not previously be settled through CLS because the utility requires more than a day to settle an FX trade. In a major report on progress in reducing FX settlement risk, published in May 2008, the Basel-based Committee on Payment and Settlement
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