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Foreign Exchange

FX news: CLS picks up Santander

CLS has announced that Banco Santander has become a settlement member of CLS Bank, bringing the total number of members to 61.

CLS say that becoming a settlement member will allow Santander to leverage the additional benefits CLS brings of improved straight-through-processing and operational and liquidity benefits.

Alan Bozian, chief executive officer of CLS Group and president and CEO of CLS Bank, says: “I am delighted that Santander has become a settlement member in CLS. Once again, this illustrates the crucial role that CLS plays in the growing foreign exchange community by optimising risk management and operational efficiency. Participation in CLS continues to rise steadily year on year and we hope to be able to increase our coverage by further expanding our offering in the future.”

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