CLS targets buy-side build-up

- By FX Markets Staff
- @FXMarkets_
- 02 Jan 2006

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For NDFs to be settled over CLS, a master agreement is needed to cover the terms normally defined in the ‘long-form’ confirmation for these contracts, according to Olaf Ransome, head of product development for Credit Suisse’s transaction services and solutions business in Zurich. He said there is an opportunity to have a special ‘join the club’ agreement, which means each participant would sign only one document. This would massively reduce the administrative effort and the processing cost, he

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