Lloyds, Swedbank Join CLS

Lloyds Banking GroupandSwedbankhave become settlement members ofCLS Group Holdings,Finextrareports. The lenders, which have been third party customers ofCLS Bankmembers, are seeking to become direct settlement members of CLS Bank.

With the latest addition, the number of banking and financial institutions as shareholders of the multi-currency cash settlement system has risen to 72. Spain’sBanco Santanderrecently became one of the member banks to settle payment instructions associated with FX trades through CLS Bank.

Click here for the story fromFinextra.