CLS Selects IBM For FX Settlement System; Swift, ATOS Also Involved
AFTER THE TRADE
LONDON--CLS Services has selected IBM to develop the technological infrastructure of CLS Bank, specifically its continuous linked settlement system aimed at minimizing foreign exchange settlement risk.
CLS Bank's continuous linked settlement system will be developed by IBM Global Services in the UK, says Martin Evans, IBM project manager. Additional resources will come out of IBM Global Services in Belgium, which was previously Fimad Consultants. IBM bought that company last year, adds Evans.
IBM
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