CIMB Thai Bank awards settlement mandate to J.P. Morgan

The US bank will offer third-party Continuous Linked Settlement services to CIMB Thai Bank in Thailand.

CIMB Thai Bank has selected J.P. Morgan as its Continuous Linked Settlement CLS third-party service provider in Thailand. This is the US institution’s first CLS client win in the country. According to J.P. Morgan, its services will significantly reduce CIMB Thai Bank’s foreign exchange settlement risk and help make its payment-versus-payment settlement more efficient.

“With J.P. Morgan’s CLS service we have been able to significantly reduce our settlement risk and enhance the services we offer to our clients while at the same time reducing out costs by minimising the number of failed settlements and other post-settlement complications,” said David Wee, senior executive vice-president and head of group information and operations...

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