CLS Unveils Starting Line-Up for Continuous Linked Settlement
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MUNICH--CLS Services, the bank-owned consortium formed to reduce FX settlement risk, last week revealed further details of the launch of its continuous linked settlement service.
The announcement, which was made to coincide with the Sibos banking technology conference in Munich, includes a full list of the member banks that are expected to participate in final operational testing, and the full launch of the service on October 2, 2000.
The CLS consortium currently consists of around 60 institutions
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