Over 300 funds now settling through CLS Bank

The number of funds settling payment instructions derived from foreign exchange deals through CLS Bank has now exceeded 300.

First Published by e-Forex News: January, 2006

The number of funds settling payment instructions derived from foreign exchange deals through CLS Bank has now exceeded 300. Since launching its Enhanced Fund FX service, CLS Bank has seen a steady increase in the number of users.
Now fund managers, pension funds, hedge funds, investment funds and asset management divisions of banks are using CLS to settle payment instructions from foreign exchange deals relating to cross-border investment activity for 338 funds. Since the beginning of 2005, there has been a 445% increase in fund participation in CLS.