Brief: Dresdner and Commerzbank seal CLS hat-trick for Fundtech

Commerzbank and Dresdner Bank have both signed up with Fundtech for its PAYplus CLS solution. The PAYplus system will enable the banks to interface with the continuous linked settlement process, a bank-backed system designed to minimise the counterparty default risk in foreign exchange trading.

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Brief: Dresdner and Commerzbank seal CLS hat-trick for Fundtech

Editorial

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The new contracts complete a hat-trick of German bank orders for Fundtech's CLS system. Deutsche Bank also recently awarded a contract to the New Jersey-based vendor for its PAYplus CLS solution.

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