CLS: US-Canada same-day forex settlement due
NEW YORK - CLS Bank is aiming to settle same-day US dollar/Canadian dollar and US dollar/Mexican peso currency trades by the end of 2010, according to chief executive Rob Close.
"We have passed many of the hurdles and there is reasonable confidence it will happen some time next year," said Close in New York. "The banks seem to want to do it, which was not always the case. But post-Lehman, things have changed and they may even be prepared to incur a little liquidity cost by settling with
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