CLS Group, the operator of a multi-currency cash settlement system to mitigate settlement risk for FX transactions, will open an office in Hong Kong, its second office in Asia after its office in Japan.
This move is part of CLS’ plan to increase the number of Asian currencies it settles. In Asia, CLS currently mitigates settlement risk for the Japanese yen, Hong Kong dollar, Singapore dollar, Australian dollar, New Zealand dollar and Korean won. CLS is seeking to add further currencies in response to increased demand as a result of intra-Asian trade flows, and has held discussions with central banks in the region, including the People’s Bank of China.
CLS Opens Hong Kong Office To Add Asian Currencies
CLS Group, the operator of a multi-currency cash settlement system to mitigate settlement risk for FX transactions, will open an office in Hong Kong, its second office in Asia after its office in Japan.