16 December 2017
visit www.avoka.com

Union Bank of Taiwan joins Citibank CLS settlement service

13 January 2003  |  3476 views  |  0 Union Bank of Taiwan joins Citibank CLS settlement service

The Union Bank of Taiwan has signed up to Citibank's continuous linked settlement (CLS) service, allowing it to submit and settle foreign exchange transactions through the CLS Bank.

CLS is a real-time global settlement process that reduces risk caused by foreign exchange (FX) transactions occurring across different time zones. Both sides of a FX transaction are settled simultaneously in the CLS Bank on a payment versus payment basis.

Citibank is one of a host of CLS settlement members competing to offer third-party services to mid-tier and smaller institutions through the CLS Bank.

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

Citibank offers new users free broadband connection and Freeserve account

Citibank offers new users free broadband connection and Freeserve account

11 December 2002  |  3947 views  |  0 comments
Citibank provides 24-hour banking at BP gas stations in Moscow

Citibank provides 24-hour banking at BP gas stations in Moscow

10 December 2002  |  2710 views  |  0 comments
CLS Bank eyes custody settlement deals

CLS Bank eyes custody settlement deals

21 November 2002  |  3250 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.thomsonreuters.infovisit www.ebaday.comvisit www.response.ncr.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
10354 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
9793 views comments | 17 tweets | 36 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7045 views comments | 19 tweets | 20 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6444 views 0 | 4 tweets | 2 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
6104 views comments | 5 tweets | 26 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job