Three more banks join CLS-Icap JV
NEW YORK - Bank of America Merrill Lynch, Credit Suisse and Morgan Stanley will sign on as founding members of the CLS/Icap joint venture trade aggregation service this month, the companies announced today (July 27).
The three banks join Citi, Deutsche Bank, JP Morgan and Royal Bank of Scotland as financial backers alongside CLS and Icap. The interbank trade compression tool aims to provide means to reduce operational risks, rationalise and consolidate legacy post-trade processes, and reduce
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