CIMB Thai Bank has appointed JP Morgan as its continuous linked settlement (CLS) third-party service provider, The Asset reports. The service will help the bank to decrease its FX settlement risk and realize efficient payment versus payment settlement.
The service will also raise trade capacity and boost operational efficiencies through a scalable solution that simplifies trade matching and reconciliation processes. The lender, JP Morgan’s first Thai CLS customer, will be able to cut down costs by minimizing the number of failed settlements and other post-settlement complications.
Click here for the story from The Asset.