Settlement risk

Tech glitch strikes CLS

NEW YORK -- The failed settlement of over 20,000 Australian dollar and Japanese yen trades on the Continuous Linked Settlement (CLS) service last week was caused by multiple technical faults, senior CLS officials told FX Week .

Tech glitch strikes CLS

NEW YORK -- The failed settlement of over 20,000 Australian dollar and Japanese yen trades on the Continuous Linked Settlement (CLS) service last week was caused by multiple technical faults, senior CLS officials told FX Week .

Asian forex still untapped

SINAGPORE -- Five years on from the Asian financial crisis, FX trading opportunities in the region remain largely untapped, market participants told FX Week .

Traders reap rewards in LatAm markets

MEXICO CITY -- As clients and banks scour the globe for volatile FX markets, Latin America has become a key battleground for new FX business, senior market participants told FX Week .

BIS expands derivatives data

BASEL -- The Bank for International Settlements said last week that it is expanding its statistics on banks’ country risk exposures to include data on derivatives exposures to individual countries.

CLS showdown in 2003

LONDON -- The stage is set for a pitched battle for third-party CLS business in 2003, according to senior bankers interviewed by FX Week.

Japanese FI goes international

TOKYO -- Japanese fixed-income investors added $25 billion of global forex volume in the past year through diversification of their portfolios, according to a report made public last week.

New market, new risks

LONDON -- The structure of the FX market is developing at a rapid pace, said Paul Fisher, head of the Bank of England’s FX division. That brings new opportunities -- but also new risks, Fisher told delegates at FX Week’s inaugural congress held in London…

CLS may affect credit lines

LONDON -- The new settlement service for forex, Continuous Linked Settlement (CLS) could reduce the importance of credit lines in forex, delegates at the inaugural FX Week Congress heard last week.

AIG joins CLS as new shareholder

LONDON -- American International Group (AIG) has become a shareholder of CLS Group Holdings, the holding company for Continuous Linked Settlement (CLS), the firm announced last week.

ABN Amro scores CLS coup

AMSTERDAM -- ABN Amro Bank announced three clients for its third-party Continuous Linked Settlement (CLS) service last week, scoring a coup in the highly competitive market.

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