Message from the MD
In addition to our normal articles we look this month at two important aspects of foreign exchange (FX) trading.
If the answer to either of these questions is "no", you had better read our report on this important new settlement process for FX settlement.
The banks designed CLS. You can have one guess who the main beneficiaries are.
But the introduction of CLS will have a big impact on anyone using the FX markets and will lead many corporates to change their cash management practices. It is, therefore, one of the most important developments in banking practice in recent years not just because of what it achieves for the banks but also because of the clearing mechanisms it is establishing. It does not just eliminate settlement risk, CLS will also be an enabler of true global cash management. But there is a cost to all this.
Turn over the page and read all about it. We report to you "how it is".
Also in this months hard copy newsletter we take a look at FxontheNet and in particular the multi bank portals that are emerging.
We will be writing more about both these subjects in the months to come and as always welcome feedback from you, our readers, as to your experiences.