The diplomat
SPECIAL REPORT: CLS
Creating the world’s first global settlement system for the largest financial market hasn’t been easy. CLS Group chief executive Joseph De Feo talks to FX Week
The final launch of continuous linked settlement (CLS) on September 9 realised a dream Joseph De Feo, chief executive officer of the CLS Group, has pursued for 25 years.
One of the original founders of the plan to cut risk by settling trades in the $1 trillion a day forex market through one clearing bank, he has watched CLS grow from a
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