Seng Heng Bank signs third party to settle CLS trades

Standard Chartered has been appointed to handle Macau-based bank''s forex trades using the Continuous Linked Settlement system.
May 25, 2004

In the first CLS third-party mandate to be awarded in Macau, Standard Chartered has been appointed to settle Seng Heng Bank's forex trades using the intra-day payment-versus-payment settlement system. The duo expects to go live with their first CLS trade by the end of this month.

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