Industry reaffirms CLS as FX data repository

Since its launch in 2002, the settlement system has been instrumental in the development and growth of the foreign exchange market by removing the majority of settlement risk in the most heavily traded currencies. However, its primary role to ensure market stability during periods of market stress was underscored in the fallout from the collapse of Lehman Brother last year, with limited impact on the market felt (FX Week, September 22, 2008).

In acknowledgement of the stability the system brings

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