CLS Bank International - "the backbone of the foreign-exchange market" - is running stress tests...

|By:, SA News Editor

CLS Bank International - "the backbone of the foreign-exchange market" - is running stress tests contemplating the breakup of the euro, according to sources. Owned mostly by 63 member banks, CLS is a settlement system used for about 70% of all trades in 17 major currencies, and is supervised by the FRBNY (as was Lehman and MF Global).