Granularity To Launch Internet Based FX Settlement System Ahead Of CLS
SETTLEMENT RESULTS
LONDON--Granularity, a new company set up to tackle FX settlement risk, is to launch a new settlement system called Granularity Payment Mechanism (GPM).
The system, which is set for launch in Q4, 2000 will be available to users ahead of the Continuous Linked Settlement (CLS) system. CLS has been rescheduled for a 2001 launch after a series of application development problems.
Granularity--so called because its system will allow users to see exactly where their trades are in the settlement process-
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