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| Definition Of: |
CLS Bank
CLS stands for Continuous Linked Settlement. The CLS Bank provides global multi-currency settlement services for foreign exchange transactions, using a payment versus payment (PvP) mechanism (meaning that a foreign exchange operation is settled only if both counterparties simultaneously have a sufficient position in the currency they are selling).
Copyright © 2006, European Central Bank, Frankfurt am Main, Germany. This information may be obtained free of charge through the ECB's website.
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Banking INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 2 3 A: Page 1 of 3.
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