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TowerGroup Studies The CLS Bank

EFT Report

08-18-2004

TowerGroup Studies The CL Bank

Volume: 28
Number: 17
ISSN: 01957287
Publication Date: 08-18-2004
Page: 1
Type: Periodical
Language: English

The Continuous-Linked adjustments (CLS) system, which became operational in September 2002 is a mechanism for payment-versus- payment (PVP) real-time adjustment of payments associated with foreign exchange transactions in which payments are the two final and irrevocable. The combination of parts to form a whole replaces the existing multi-day arrangement process with a five-hour "time window," during which trade funding, arrangement and payment are ...





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