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, developed in consultation with leading financial institutions, creates greater operational efficiencies and, through multilateral netting, reduces liquidity and payment demands across the industry.