Continuous Linked Settlement (CLS), the electronic settlement network for foreign exchange, is handling a growing proportion of transactions globally, according to a new report.
The survey shows that CLS is becoming an increasingly established and integral part of the foreign exchange markets. But some of the network?s earlier plans, such as adding money market instruments, have been delayed.
The report by TowerGroup found that two-thirds of CLS?s member banks now use it to settle at least 50% of their daily FX volumes. TowerGroup predicts that by...
