Citi and Morgan Stanley live on CLS/Traiana JV service
NEW YORK – Citi and Morgan Stanley became the first two banks to begin aggregating interbank trade tickets pre-settlement on the CLS/Traiana joint-venture system last Monday (January 25).
The interbank trade compression tool was launched to manage back-office capacity constraints largely experienced by foreign exchange prime brokers (FX Week, April 13, 2009). The product also aims to reduce the post-trade costs caused by the rise in volumes from high-frequency/low-value traders, including hedge
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