More NewsCLS Bank Live with Four Additional Currencies

CLS Bank Live with Four Additional Currencies

Four new currencies have been accepted for settlement at CLS Bank International (CLS Bank). This brings to 15 the number of currencies eligible to settle through CLS Bank. Following regulatory approval, the Hong Kong Dollar, the Korean won, the New Zealand dollar and the South African rand have been designated as CLS Bank Settlement Eligible Currencies by the CLS Bank board of directors. The new currencies join the existing 11, the Australian dollar, Canadian dollar, Danish krone, euro, Japanese yen, Norwegian krone, Singapore dollar, Swedish krona, Swiss franc, UK sterling, and US dollar as CLS Bank eligible currencies. Over 250 institutions are now settling through CLS Bank. Of these, 58 are CLS Bank members, including four new members from Korea and South Africa: Korea Exchange Bank, Kookmin Bank, Absa and Standard Bank of South Africa. An additional 191 banks, non-bank financial institutions and corporates and over 35 funds are using the CLS Bank service as third parties.

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