FX Week China: Post-trade forex utilities are crucial in crisis times
The post-trade clearing and settlement infrastructures of the foreign exchange market – including both CLS and the new FX central counterparties (CCPs) that have launched in recent months – have an increasingly important role to play in ensuring the stability of the market in a crisis, according to speakers at the FX Week China event in Shanghai earlier this week.
"Before the crisis, CLS was seen as something that was expensive and perhaps difficult to work with – not unnecessary, but an
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