Singapore moves to protect CLS

TECHNOLOGY NEWS

SINGAPORE – Continuous Linked Settlement (CLS), the global payments system that aims to reduce settlement risk in international currency markets, could be a legally protected designated system under proposed Singapore laws, Singapore financial regulators said in August.

Transactions settled in designated settlement systems would be final and irrevocable under the proposed rules, which are aimed at reducing the risks associated with settlement systems, the Monetary Authority of Singapor