CLS announces major strategy shift

The settlement utility will diversify into processing and data to become a business with three major service areas

David Puth, Market Participants Group
David Puth, CLS Group

Industry utility CLS Group has announced a major strategic shift in its positioning in the $5.1 trillion-a-day currency market, as the long-standing settlement infrastructure provider looks to become a multi-product company with three business lines.

The company, which has been the backbone of currency settlement for more than 15 years, will now add processing and data services to its offerings and it will undertake a full rebrand. It is also considering changing its corporate structure to

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