CLS adds Swedbank as a settlement member
Sweden's Swedbank has become the latest bank to become a settlement member of foreign exchange settlement risk mitigation utility CLS, more than a year after its last settlement member, Lloyds Bank Corporate Markets, was added in September 2011.
The addition of Swedbank brings the current number of CLS settlement members to 62. Swedbank had originally been a third-party participant for several years before becoming a CLS shareholder in January 2011, at the same time as Lloyds.
Becoming a
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