AIG joins CLS as new shareholder
AIG Trading, a subsidiary of AIG, will co-ordinate AIG member companies’ trades with CLS. The US firm is the 67th shareholder of CLS.
Joseph De Feo, chairman of CLS in New York said: "As we add new shareholders and new currencies we increase the value of the CLS service for our shareholders and the financial services market -- increasing the number of CLS counterparties who can settle with reduced risk and cost."
In a separate move, JP Morgan Treasury Services last week announced that its first
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