Seven months before the global launch of the Continuous Linked Settlement CLS initiative, Deutsche Bank has started to demonstrate its clearing capabilities to third party banks with the roll out of db-CLSLink. The payment vs payment system which helps to eliminate the cash settlement process for foreign currency trades will be offered to Deutsche's third party banking clients in an electronic platform, and eventually on the web.
The db-CLSLink system is designed to give smaller domestic banks access to CLS services without requiring them to become a direct CLS member.
CLS, a global initiative sponsored by 70 shareholder banks, is due for launch in July 2002. Once it is up and running, member banks...
