Midas Kapiti International MKI has announced it is developing software that will add support for Continuous Linked Settlement CLS foreign exchange deals to its three banking back-office packages - Equation, Midas and OPICS.
CLS is a new foreign exchange settlement service designed to reduce risk by establishing a Payment-versus-Payment process on a real-time basis. An industry organisation, owned by 63 shareholder banks and registered as the CLS Bank, has been set up to provide...