CLS, Icap Enter Post-Trade JV

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The joint venture, announced on April 6 and expected to be operational by mid-year after regulatory approval, aims to reduce operational risks and post-trade costs by establishing a compression tool for interbank trades. The move is an attempt by the industry utility to resolve back-office capacity constraints and processing costs for FX prime brokers that have experienced surging volumes of low-value trade tickets from high-frequency traders and retail aggregators.

The tool will aggregate all

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