CLS builds up fund presence
NEWS
Fund managers are now behind an average $6 billion worth of payment instructions settled over the platform on a daily basis.
Largely based in the US, the managers are using CLS' Enhanced Fund FX (EF FX) services to settle payment instructions for 338 funds. Together, they settle an average of 2,000 payment instructions a day via CLS, with the majority of the volume, which last reached 60-70,000, coming around quarterly settlement dates.
The funds service enables portfolio managers to trade with
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