India’s CCIL adds more banks
NEWS
Banks have been going live on the platform in phases since CCIL first began offering fourth-party continuous-linked settlement (CLS) through ABN Amro as its settlement bank, in April.
CCIL submitted its first round of trades to CLS on April 8, which consisted of 10–15 trades from three of its member banks (FX Week, April 25).
"Things have been progressing since then. We now have seven banks live on CLS as fourth parties," said Indirani Rao, vice-president at the CCIL in Mumbai. On average, CCIL
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