MKI to Intergrate CLS Function Into Settlement Products
STRAIGHT THROUGH PROCESSING
LONDON--Midas Kapiti International (MKI) is to integrate a Continuous Linked Settlement (CLS) function into its Midas, Equation and Opics back-office systems to counter settlement risk with foreign exchange transactions.
CLS is a system designed by CLS Bank, an intermediary settlement bank set up by 63 shareholder banks from 14 countries to authenticate transactions between buyers and sellers without any time delays.
MKI will embed a CLS component into the following: its Opics position keeping and
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