BOC Becomes Shareholder of CLS Group.

(From SinoCast China Financial Watch)

BEIJING, October 11, SinoCast -- Bank of China (3988.HK; 601988.SH), the nation's main foreign exchange lender, leads local peers in joining CLS Group. Beijing-based BOC is believed to better manage settlement risk in the foreign exchange market and improve fund use efficiency after joining CLS and adopt the latter's advanced, safe and efficient settlement model, thereby further enhancing the risk management and liquidity management, told BOC's president Li Lihui. Bank of China (Hong Kong) Limited under the aegis of the state-backed BOC will in due course apply to become a Settlement Member of CLS Bank International, the provider …