CLS Bank declared the elimination of settlement risk in the foreign exchange markets with the live launch of its Continuous Linked Settlement (CLStm) service – settling live instructions for foreign exchange trades. ‘Each side of a foreign exchange trade can now be settled simultaneously and irrevocably, in a payment versus payment (PVP) mode,’ said an announcement. Under CLS, seven of the world’s central banks and many of the world’s leading financial institutions are linked via a global settlement system. CLS has 66 of the world’s financial institutions participating as shareholders. This group represents over 80% of the world’s foreign exchange business by value. An initial 39 of these shareholders have passed trials for CLS Bank Settlement Membership and will start today to begin settling instructions for their ‘bank-to-bank’ foreign exchange activity. The service will be expanded by the end of the year to include customers of CLS Bank Settlement Members.
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