CLS faces up to Eastern realities

Ambitious expansion plans on ice after firm suspends operational trials of ruble

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Currency settlement utility CLS has been forced to face up to the practical realities that come with its ambitious expansion plans into Eastern emerging markets, suspending operational trialling of the Russian ruble and delaying its adoption.

CLS has been negotiating with the Central Bank of Russia since 2012 on plans to adopt the ruble into its universe of 17 currencies, which would place the utility in a position to benefit from the growth of emerging markets currencies in the East.

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