CLS Services Announces Launch Date For Continuous Linked Settlement

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LONDON--CLS Services, the bank-owned consortium formed to reduce FX settlement risk, has announced that it will go live with its continuous linked settlements service on Monday, October 2, 2000.

The decision on the launch date was taken recently by the group's managing board, and officials say it will finally usher in an era of greatly reduced FX settlement risk, as banks use the system to match their payments with one another centrally, through CLS Bank.

CLS consortium now includes around 60