Hong Kong And New Zealand Dollars Endorsed In-Principle By CLS Bank
Following on from the start of the Continuous Linked Settlement (CLS(tm)) service this month, CLS Bank International (CLS Bank) said that the New Zealand and Hong Kong Dollars will become CLS Bank eligible currencies once all the requirements in CLS Bank’s rules have been satisfied. This follows CLS Bank’s similar in-principle endorsement at the end of 2001 to add the Danish Kroner, Norwegian Krone, Swedish Krona and Singapore Dollar as CLS Bank eligible currencies. This announcement now brings the number of currencies endorsed in-principle by CLS Bank to six, with other currencies under consideration. Once these currencies have satisfied all the requirements they will join the Australian Dollar, Canadian Dollar, Euro, Japanese Yen, Pound Sterling, Swiss Franc and United States Dollar as CLS Bank eligible currencies.