CLS Bank live with four additional currencies

CLS Bank has announced it will settle payment instructions in four new currencies.

First Published by e-Forex News: January, 2005

CLS Bank has announced it will settle payment instructions in four new currencies. This brings to fifteen 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.<br>
Joseph De Feo
Announcing the new currencies, Joseph De Feo, Chief Executive Officer of CLS Group and President and CEO of CLS Bank, said: "CLS Bank has made excellent progress over the last year. Volumes have almost doubled and the number of third party institutions is rapidly approaching 250, as a growing proportion of the market experiences the benefits of CLS participation. The addition of four new currencies represents another major enhancement to the service."