WestLB has subscribed to Citibank CLSTM Settlement Services for foreign exchange settlement. Continuous Linked Settlement (CLS) aims to reduce the settlement risk caused by foreign exchange transactions occurring across various time zones. This is achieved by the simultaneous settlement of both sides to a foreign exchange transaction. CLS will initially commence operations with approximately 40 participating banks. Citibank e-Business has developed Citibank CLS Settlement Services, which WestLB will be able to offer to German savings banks and Landesbanks. Through this agreement, the advantages of CLS settlement will be made accessible to a large number of qualified financial institutions. Previously, there was no dedicated mechanism available in which financial institutions could utilize Citibank’s infrastructure to settle their foreign exchange transactions on a payment vs. payment basis.
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