CLS moves into OTC derivatives
NEWS
Rob Close, president and chief executive of CLS, said the strategic partnership will support the global expansion of the OTC derivatives market while reducing cost and risk.
DTCC, the OTC derivatives processing body, will link its trade database, the Deriv/SERV's Trade Information Warehouse to CLS, to enable central settlement for OTC derivatives.
The initiative sees CLS expand beyond the boundaries of FX, with the tie-up first supporting credit derivatives. It will later extend to other OTC
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