Cedel Prepares To Launch GCSS Collateral Management Service
Luxembourg-based Cedel Bank is testing a new clearing service to manage credit support assets and bilateral exposures. Global Credit Support Service (GCSS) is now in beta-test phase and is expected to be launched shortly, say Cedel officials.
According to Gerald Sampson, senior manager for GCSS, the service is an online book entry clearing system for bilaterally negotiated credit support agreements.
"Basically, it is designed for anybody who has a collateral management need. The primary target
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