27 March 2017
visit nextgenbanking.co.uk

Three more banks join CLS/Icap FX joint venture

27 July 2009  |  9108 views  |  0 cash

Bank of America, Credit Suisse and Morgan Stanley have joined four other founder banks in supporting the CLS/Icap joint venture to provide trade aggregation services in the over-the-counter FX market.

The joint venture was announced in April between FX settlement group CLS and interdealer broker Icap, with the support of Citigroup, Deutsche Bank, JPMorgan and Royal Bank of Scotland.

Traiana, an Icap company, will be providing technology to the venture via the Traiana Harmony network, with the objective of rationalising post trade processes to cope with rising FX volumes.

Rob Close, chief executive officer of CLS Group comments: "The value of our aggregation service increases with participation, and adding Bank of America, Morgan Stanley and Credit Suisse to the group of founding banks will accelerate benefits to all participants."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Icap and CLS set up FX post-trade joint venture

Icap and CLS set up FX post-trade joint venture

06 April 2009  |  9560 views  |  0 comments
Banks warned on FX settlement risk

Banks warned on FX settlement risk

15 May 2008  |  8459 views  |  0 comments
CLS Bank extends settlement service to non-deliverable forwards

CLS Bank extends settlement service to non-deliverable forwards

07 December 2007  |  4673 views  |  0 comments
Icap acquires FX post-trade processor Traiana

Icap acquires FX post-trade processor Traiana

10 October 2007  |  8418 views  |  0 comments
CLS hits back at critics

CLS hits back at critics

05 October 2007  |  8788 views  |  0 comments
Regulators call for bank action to cut FX settlement risk

Regulators call for bank action to cut FX settlement risk

18 July 2007  |  6541 views  |  0 comments
Buy-side challenge for CLS as interbank FX markets feel the benefit

Buy-side challenge for CLS as interbank FX markets feel the benefit

26 July 2005  |  9067 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit abe-eba.euVisit capgemini.com

Top topics

Most viewed Most shared
French retailer Carrefour launches online bank accountFrench retailer Carrefour launches online...
57589 views comments | 17 tweets | 36 linkedin
European Commission opens public consultation on fintechEuropean Commission opens public consultat...
10578 views comments | 46 tweets | 28 linkedin
MAS to roll out national KYC utility for SingaporeMAS to roll out national KYC utility for S...
10403 views comments | 31 tweets | 40 linkedin
hands typing furiouslyTwo key technologies driving Machine Learn...
7600 views 0 | 13 tweets | 3 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job