The volume of instructions submitted through CLS Bank is predicted to increase 150 per cent by the middle of 2005, according to results of TowerGroup research. The research, conducted amongst 40 of CLS Bank’s Settlement Member banks, representing some of the world’s largest global financial institutions, found that the main motivation for joining CLS Bank was the reduction of settlement risk. Over 95 per cent stated that this was an important or very important reason for their participation. This was followed by the avoidance of regulatory action (88 per cent) and efficiency – to improve STP rates and reduce errors (65 per cent). CLS Bank currently settles on average almost 70,000 payment instructions per day with an average gross value of approximately $US 800 billion, with over $US 50 trillion settled to date. According to the research, it is expected that the total volume will be 100,000 instructions per day by mid-2003 and 150,000 instructions per day by mid-2004 – growing to 176,000 instructions per day by the middle of 2005.
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