FIVE YEARS AGO IN FXW
FIVE YEARS AGO IN FXW
New Basle Committee Examines Options For Reducing FX Settlement
The head of the payment, settlement and clearing systems division at the Bank of England, Peter Allsopp, is spearheading a new effort by the Basle-based G-10 central bank governors group to study ways of curbing settlement risk in the foreign exchange market. Allsopp is heading the steering group of the G-10 Committee on Payment and Settlement Systems run by New York Federal Reserve chief William McDonough, Bank of England officials
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More on Settlement Risk
Tackling rising FX settlement risk with DLT
Distributed ledger technology provides a remarkable opportunity to mitigate the rising settlement risk within the FX industry, explains Alex Knight, head of Europe, the Middle East and Africa at Baton Systems.
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Unlike CLS’s main settlement tool, CLSNow lets banks settle FX positions on the same day
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CLS settlement will migrate to new platform in 2020
The infrastructure provider will launch the new venue based on its own technology next year, with service migration planned for May 2020
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Banco Monex becomes first Mexican member of CLS
The bank is the only CLS settlement member in one of Latin America’s largest FX trading centres
