Trading practices yet to change post-CLS

Just 16% -- or six -- of the 40 banks that contributed to the survey said they had made any changes in trading behaviour. That includes favouring trading with counterparties that are also users of CLS, and increasing deal spreads for non-CLS counterparties, said David Medeiros, director of global payments research at consultancy Tower Group, which carried out the survey for CLS.

That finding goes against expectations that the September 9 launch of CLS, which aims to reduce risk in forex sett