Three Scandinavian currencies extend global reach of CLS Bank
10 currencies are now eligible for CLS Settlement through CLS Bank. The Swedish Krona, Danish Kroner and Norwegian Krone are being added to 7 other global currencies. Institutions using CLS Settlement remove the time risk when settling foreign exchange transactions. Banks will be able to settle in a new real time five hour window which does not exist in today’s markets, for the first time linking many of the globe’s real time gross settlement systems and ultimately reducing the costs of cross-border transactions.