Settlement Risk

CLS considers membership category for CCPs

Foreign exchange central settlement provider CLS Bank is considering the creation of a new membership category for central counterparties (CCPs) developing clearing services for FX derivatives, the firm has told FX Week.

UBS regains top spot for CLS

UBS swings back into the lead as the top provider of CLS third-party services, as demand for access to the industry utility continues to rise.

Why aren’t the Greeks using CLS?

A lesson learned from the Lehman Brothers bankruptcy was that, at times of stress, CLS plays a central role in ensuring forex traders are protected. It seems surprising then that only one Greek bank is using the settlement system.

Bank of Canada salutes CLS

TORONTO - Bank of Canada became the latest monetary authority to publicly champion the success of industry utility CLS in ensuring the smooth operation of the foreign exchange market during the financial crisis.

An imbalanced proposition

At the time of going to press, decisions on the future of the foreign exchange markets was still hanging in the balance, as regulators in the US debated the inclusion of forex swaps and forwards into the over-the-counter derivatives reforms.

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