Q2 2001 Feasibility Study
Singapore Banks conclude that a CLS utility is the best option for linking to CLS |
| Q3 2001 Utility Build Commences |
| 7 Jan 2002 ‘CAPS’ formally registered |
Q2 2002 Integrated Testing
Months of detailed testing to prove the infrastructure undertaken over May - September |
Q3 2002 CLS Approvals
5 weeks of intensive trialing with CLS leading up to
11 December |
11 Dec 2002 CAPS GO-LIVE
24 trades inaugurate the service.
Ramp up of transaction volumes takes place over Q1 and Q2 2003 as banks take more and more of their FX transactions onto CLS |
| 30 June 2003 Cumulative Gross Currency Value crosses US$ 1 trillion |
10 September 2003 SG$ and 2nd Wave Live
Transaction volumes ramp up with the inclusion of SGD as a CLS currency. Unit transaction processing costs to customers fall to levels competing favourably with the large global banks. |
6 December 2004 3rd Wave Live
Cumulative Gross currency value crosses US$ 8 trillion
|
29 November 2006
Cumulative Gross Currency Value crosses US$ 25 trillion
|
