Continuous linked settlement
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(CLS).
A global real-time settlement system for foreign exchange transactions that eliminates foreign exchange settlement risk caused by delays arising from time-zone differences; the so-called Herstatt risk.
See also
- Settlement system
- Herstatt risk
- Intraday risk
- Payments and payment systems
- Real-time gross settlement system (RTGS)
- Settlement
Other resource
The Great FX Fix, The Treasurer Cash Management Supplement 2009
