CLS Bank (CLSB)
CLS stands for Continuous Linked Settlement. The CLS Bank provides global multi-currency settlement services for foreign exchange transactions, using a payment versus payment (PvP) mechanism (meaning that a foreign exchange operation is settled only if both counterparties simultaneously have a sufficient position in the currency they are selling).
Copyright © 2006,
European Central Bank, Frankfurt am Main, Germany. This information may be obtained free of charge through the
ECB's website.
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