CLS launches same-day settlement service
CLS, the US foreign exchange settlements company, has launched a same-day settlement service, with JP Morgan and Goldman Sachs being the first banks to sign up.
The company, which specialises in delivering settlement, processing and data solutions, describes its new service, CLSNow, as a bilateral, same-day FX gross payment-versus-payment (PvP) settlement service.CLSNow is intended to enable banks to exchange currency positions with mitigated settlement risk on a near real-time basis. JP Morgan and ...
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