Project Management

CLS Transforms Worldwide Foreign Exchange Trading With IBM

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Executive Summary

To eliminate the risk of default on Foreign Exchange (FX) dealings caused by time zone differences and delays, global banks needed to transform FX settlement processes to enable simultaneous and real-time global settlements while accommodating growth and service expansion. Leading global banks set up CLS Bank to design a unique, innovative real-time process for same-day foreign exchange settlement. CLS partnered with IBM to design, develop and manage the IT applications and infrastructure needed to support the uniquely secure new process.

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