Heather McLean Freelance journalist
Heather McLean Freelance journalist

CLS Bank International – working to educate the market about CLS

Heather McLean talks to Jonathan Butterfield about how CLS Bank is working hard to educate the market about what CLS is and what you can get from it.

First Published: e-Forex Magazine 19 / Features / July, 2005

“We’re working hard to educate the market about what CLS is and what you can get from it,”Jonathan Butterfield, EVP, marketing and communication at CLS Bank International.Following a sceptical welcome from the industry, CLS Bank International is now at the forefront of foreign exchange settlement. Many believe that CLS (Continuous Linked Settlement) services will become the defacto electronic foreign exchange settlement service in years to come, as the industry-run bank continues to grow in terms of popularity and currency spread.After its first phase of take up with Settlement Member banks, the second major phase of participation has been through third party banks. There are now over 400 third party participants reaping the benefits of CLS services, and this now includes corporates and fund managers in a third phase of growth.“We’re working hard to educate the market about what CLS is and what you can get from it,” Jonathan Butterfield, executive vice president of...continued

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