Cross currency swap trades expose counterparties to significant settlement risk due to the high value of initial and final principal exchanges. Financial information services provider, Markit and CLS Group, a risk mitigation and operational services provider for the global forex market have announced the launch of a new settlement service for cross currency swaps. The new service, called “Cross Currency Swaps”, will allow customers to trade in both currencies at one point during their trading day.
Financial information services provider, Markit and CLS Group, a risk mitigation and operational services provider for the global forex market have announced the launch of a new settlement service for cross currency swaps. The new service, called “Cross Currency Swaps”, will allow customers to trade in both currencies at one point during their trading day.