LOOSE CHANGE
LOOSE CHANGE
The G20 will this month set up CLS Services, a private UK company to develop a real-time system for settling FX transactions. At a recent meeting in London, the G20 confirmed its commitment to develop and implement a continuous linked settlement system to significantly reduce FX settlement risk (FXW, June 16). Members of the G20 are expected to become shareholders of CLS Services. Other participants in the FX market will be invited to join as shareholders in the company. Echo, Multinet and the
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Banco Monex becomes first Mexican member of CLS
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