Midas Kapiti announces CLS software solution

MKI''s banking packages to support Continuous Linked Settlement for FOREX deals.

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 the infrastructure necessary for the new system.

The service is set to go live around October this year and all member banks expect to be integrated by third quarter 2001. The first wave of...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222