CLS launch date slips once more

TECHNOLOGY NEWS

NEW YORK -- CLS Services has delayed the launch of its initiative aimed at reducing FX settlement risk until next year, a spokesperson told FX Week.

"The system will continue to undergo rigorous testing," the spokesperson said. "It will be tested with members in Q4 on a restricted basis, and we have a launch projected for Q1 2002."

The delay is due to a request for further testing time from IBM, which is providing the technology for CLS Services, said the spokesperson.

The service was due to

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