CLS wants more members to help it boost third-party access
New members are fuelling PvP settlement growth, but utility says it will need more to maintain this
CLS has said the rapid growth in the volume of trades being settled under its payment-versus-payment system means it will need to expand membership to a greater range of market participants in order to address settlement risks across the FX sector.
During a webinar hosted by FX Markets on February 23, Lisa Danino-Lewis, chief growth officer at the FX market utility, said that more than 90% of CLS’s growth last year came from third parties, such as regional banks and asset managers.
This, she
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