New CLS Currencies Successfully Integrated
The four new CLS currencies that went live on Monday September 8th were smoothly integrated into the CLS settlement cycle, according to JPMorgan Treasury Services. CLS Bank began accepting trades in the Danish, Norwegian and Swedish currencies and the first settlements of those trades were completed successfully on the following day. Two days later, CLS also began to accept trades in Singapore Dollars bringing the total number of currencies supported to 11. CLS plans to add further currencies in 2004 subject to shareholder and regulatory approval; currently the currencies of Hong Kong, Korea and New Zealand have received approval in principle from the CLS board.