Payments banks in CLS lead

Chris Tattersall, managing principal at Capco in London said these are the banks that dominate the "tier one" of CLS third-party service providers -- a group he estimates to contain about six banks.

Another 14 banks have -- or are developing -- a third-party service but these are not major payments banks, he said, speaking at a seminar organised by CLS in New York in March.

Tattersall did not name the banks in the top tier, although client numbers obtained by FX Week suggest the top six are: Citigroup (25), JP Morgan Chase (23), HSBC (22), UBS Warburg (19) ABN Amro (12) and SG ("more than 10").

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