Colombia fruitful for Citi settlement
The bank's white-label clearing and settlement system was deployed by Camara de Compensacion de Divisas de Colombia (CCD) - the Colombian FX clearing house - in November last year to tackle FX settlement risk in the country (FX Week, April 7). The system works similar to industry utility CLS by simultaneously settling both sides of trades for members.
Officials at CCD told FX Week that since launch, the daily average value of trades has increased five-fold to $1.3 billion in September and the
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