Citibank’s CLS Service Selected by Lloyds TSB
Lloyds TSB has selected Citigroup as their Continuous Linked Settlement (CLS) service provider with plans for the operation to go live in the first quarter of 2005. Lloyds TSB will use Citibank CLS Settlement Services for trade matching, automated funding, reconciliation and access to real-time activity reporting in foreign exchange trading. This solution will help Lloyds TSB to reduce settlement risk, gain greater efficiencies and increase access to intraday liquidity.
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