20 October 2017
visit www.response.ncr.com

Lloyds TSB signs up to Citigroup's CLS settlement service

13 October 2004  |  4876 views  |  0 Citygroup

Citigroup has signed UK bank Lloyds TSB to its third party continuous link settlement (CLS) services.

Lloyds will use the service for FX trade matching, automated funding, reconciliation and access to real-time activity reporting.

Citigroup says it has almost 50 clients for its CLS service in Asia, North America, Europe and Africa. Matt Hodgson, vice president, Citigroup Global Transaction Services, says the bank tailors the service to each clients needs.

Lloyds TSB plans to go live with the CLS service by the first quarter of 2005.

Separately, Confederacion Espanola del Cajas de Ahorros (CECA) - which acts as a confederation for 46 Spanish savings banks - has contracted with Citigroup for the processing of its Asian letters of credit.

Under the agreement, Citigroup's Asian operations will provide processing services to CECA member banks.

Robert Aleu Sanchez, head of capital markets, products and services for CECA, says: "Citigroup proposed a tailored solution to handling our Asian trade business which will clearly meet CECA's requirements."

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

Lloyds TSB selects OpenPages for Sarbanes-Oxley compliance

Lloyds TSB selects OpenPages for Sarbanes-Oxley compliance

21 September 2004  |  3840 views  |  0 comments
Lloyds TSB implements COSuser access management software

Lloyds TSB implements COSuser access management software

16 September 2004  |  2329 views  |  0 comments
CLS volumes forecast to rise

CLS volumes forecast to rise

25 May 2004  |  3878 views  |  0 comments
CME appoints Citi to handle FX futures settlement via CLS

CME appoints Citi to handle FX futures settlement via CLS

07 July 2003  |  7434 views  |  0 comments
CLS glitch hits Asia Pacific trades

CLS glitch hits Asia Pacific trades

27 March 2003  |  4075 views  |  0 comments
Bank of Kaohsiung selects Citibank for CLS settlement

Bank of Kaohsiung selects Citibank for CLS settlement

26 February 2003  |  3058 views  |  0 comments
Union Bank of Taiwan joins Citibank CLS settlement service

Union Bank of Taiwan joins Citibank CLS settlement service

13 January 2003  |  3449 views  |  0 comments
Citibank to act as CLS concentrator for WestLB

Citibank to act as CLS concentrator for WestLB

11 July 2002  |  3552 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comRegister nowvisit www.innotribe.com

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15978 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
9068 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8212 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7219 views comments | 9 tweets | 17 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
6791 views comments | 19 tweets | 25 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job