CLS upgrades infrastructure channel for settlement members
A new member gateway based on Swift ISO standards is expected to save up to $500,000 per settlement member
Foreign exchange utility CLS announced on November 8 that it has completed the upgrade for its settlement members to a new member gateway and market infrastructure channel, expected to save up to $500,000 per participant.
The company has worked with around 60 large financial institutions, as well as with payments infrastructure company Swift, to build and integrate a new member gateway into each bank's core architecture.
The gateway is based on market standards, including Swift ISO standards
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