CLS upgrades infrastructure channel for settlement members

A bridge to ISO: infrastructure improvements have been made to CLS systems

- By Alessandro Aimone
- @aimoneale
- 08 Nov 2016

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Foreign exchange utility CLS announced on November 8 that it has completed the upgrade for its settlement members to a new member gateway and market infrastructure channel, expected to save up to $500,000 per participant.

The company has worked with around 60 large financial institutions, as well as with payments infrastructure company Swift, to build and integrate a new member gateway into each bank's core architecture.

The gateway is based on market standards, including Swift ISO standards

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