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CLS and NEX expand triReduce CLS FX service to third parties
CLS, a market infrastructure group delivering settlement, processing and data solutions, and NEX (LON:NXG), a financial technology company at the centre of the global markets, announced today that they are extending the triReduce CLS FX service to third parties. Banks, funds, non-bank financial institutions and multinational corporations that settle in CLSSettlement through a settlement member are now able to join the compression service, benefiting from reduced counterparty exposures and operational risk mitigation.Third parties will participate in the same compression cycles as CLS settlement members. After a ... (full story)