setting-goals-for-currency-clearing

Setting goals for currency clearing

In the world of currency trading, improvements are needed in the settlement of cross-regional currencies and the onshore clearing of US dollars, says Latiff at JPMorgan.
Abdul Raof Latiff heads treasury services clearing and foreign exchange in Asia at JPMorgan Treasury Services. He talks about the state of connectivity in Asia and the opportunities for banks to do business in the region.

To what extent has Asia adopted new technologies to facilitate clearing and settlement
Around 10 years ago, almost three quarters of countries in this region did not have a RTGS real time gross settlement system in their local currency. This has changed typically in each country there is now a way to clear cheques and giro transactions and also methods to clear telegraphic transfers locally. Some markets have their own unique systems in place while others have consolidated...
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