Bank race for CLS clients


LONDON -- The world’s top FX banks are racing against time -- and each other -- to sign up a potential 2,000 third-party banks and institutions as clients for a new forex settlement system.

Those marketing their connection services to the Continuous Linked Settlement service -- due for launch in October -- stand to gain increased forex business from the third parties they can convince to use their systems.

And according to officials at some of the 66 CLS shareholder banks, competition for third

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