CLS: the 10-year-old man in the middle

Gerard Hartsink at CLS

As the primary mechanism by which settlement risk – by far the most significant risk in the foreign exchange market – is mitigated, CLS has always been the subject of a fair amount of industry attention throughout its 10-year history, and this year has been no exception.

During the course of 2012, the company parted company with its former chief executive, Alan Bozian, appointed a new chief executive, David Puth, was designated a systemically important financial market utility by the US

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