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No. 13298 IN THE SUPREME COURT OF THE UNITED STATES ALICE CORPORATION PTY. LTD., Petitioner, v.CLS BANK INTERNATIONAL AND CLS SERVICES, LTD., Respondents. On Writ of Certiorari to the United States
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CLS Bank is a financial institution that provides settlement services for foreign exchange transactions.
Any financial institution that engages in foreign exchange transactions is required to file CLS Bank reports.
Financial institutions can fill out CLS Bank reports online through the designated portal provided by the organization.
The purpose of CLS Bank is to reduce settlement risk in foreign exchange transactions by providing real-time payment-versus-payment settlement services.
Financial institutions must report details of their foreign exchange transactions, including the currency pairs, amounts, and counterparties involved.
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