Citi triumphs in Asian CLS

Citi has about eight clients in total in Asia, including banks based in Hong Kong and Japan, as well as Taiwan. The bank attributed its success in the region to its ability to offer on-the-ground support.

"Choosing a CLS Settlement Member [the term used for a bank offering third-party CLS] is one of the most important strategic decisions for any organisation in managing their foreign currency transactions," said Jerry Chen, head of Citigroup Cash and Trade Services, and Financial Services head in

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