Is there a global authority that oversees and regulates international wire transfers?

Asked Dec 6, 2018· 1 answer
Faisal KhanAnswered Dec 6, 2018

Not in the authoritative sense, no.

There is Bank for International Settlements, in Basel, Switzerland, that is termed the central bank of all central banks. So they do a lot of settlements amongst member banks.

Then there is a company very few people know of. The Luxottica of Money as I call them. CLS-Group. This company clears roughly 70% of the daily $6–7 Trillion FX Market. Yes, that is Trillion and Daily!

  • Bank for International Settlements
  • CLS | Trusted market solutions
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