CLS launches two new membership categories

Non-shareholder members will pay a fee to gain equal rights and access to the system as CLS shareholders

David Puth at CLS
David Puth: "We look forward to welcoming new members"

Settlement utility CLS has introduced two new forms of membership, alongside its existing shareholder and central bank settlement categories, in a bid to boost engagement and allow a broader group of institutions to work with the company.

The new options will be affiliated settlement and non-shareholder settlement membership.

The affiliated model will allow an institution within a corporate group to become a settlement member, benefitting retail and investment banking divisions or bank

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