The CLS Bank International (CLS Bank) settlement service, the global financial industry initiative to eliminate the settlement (temporal) risk that arises from foreign exchange transactions, will now launch a live service in the first half of 2002. Trials will start in the first quarter of 2002, enabling a fully live service to be available in the following quarter. CLS Bank will provide a new global infrastructure for multi-currency payment clearing and settlement. CLS and its 67 Shareholder institutions have completed the financial, legal, operational and the majority of the risk management steps required in achieving this change in global financial operations. Live ‘trials’ of the service, using pre-arranged (‘scripted’) foreign exchange trades to generate the settlement instructions, will begin towards the end of the first quarter of 2002, with ‘end-to-end’ live trialing of CLS Bank’s operations.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more