Triumph in the midst of adversity
At the close of the year, the industry can find comfort in serious headway made in resolving the biggest risks faced – settlement and operational risks. In November, CLS went live with the sixty-first settlement member bank in Santander, and it is thought that Lloyds, CLS third-party client of Citi, isn’t far behind. In 2010, CLS settled an average daily volume of close to 800,000 instructions with an average daily value of $4.1 trillion. In November it settled a new record volume of 1,936,790
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