CLS to replace core settlement system

Overhaul will leverage conventional technology rather than the blockchain solution underpinning the new CLSNet service

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Digital data: the FX market utility has stopped short of employing new DL technology

CLS Bank, the de facto settlement provider to the global foreign exchange markets, has initiated a lengthy project to replace the core settlement engine it has relied on for the past 15 years.

“We have embarked on a strategy to ultimately replace the settlement system on which CLS was launched. This is a project we have been working on for some time as we consider what kind of platform we need to embark on a growth strategy in the coming years, and deliver the best value for our members and the