CLS faces uphill battle to meet currency expansion targets
As the years slip by since CLS last took on a new currency, the foreign exchange settlement risk mitigation utility is under mounting pressure to expand further, but it faces numerous challenges in meeting its ambitious target to double the number of currencies in the system over the next decade, according to sources close to the firm.
CLS today covers 17 currencies; the last to be added were the Israeli shekel and the Mexican peso in May 2008. Speaking shortly after his appointment as chief
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