Exchanges
CLS PROFILE: the benefits of membership
Newton Investment Management, a UK fund management subsidiary of Mellon, joined CLS as a third-party member in March 2004. Mohsin Siddiqi (right), supervisor, trade operations, explains what drove the decision to join the system and what benefits it has…
CLS THREE YEARS ON: CLS set to corner settlement market
Three years after its creation, the continuous-linked settlement service (CLS) looks to be on track to meet its goal of getting 90% of spot FX trades settled in five years, with well over 50% of trades transacted using the system already.
Rivals gear up for FX clearing
LONDON – The stage is set for a central counterparty clearing (CCP) system for FX as two potential providers moved their plans forward last week.
Central counterparty clearing on the way
LONDON – LCH.Clearnet is planning to launch the first central counterparty clearing service for foreign exchange, in a move that could challenge the role of continuous-linked settlement (CLS).
Merrill to settle its forex trades via Citi
NEW YORK -- Citigroup has won a coveted deal to settle Merrill Lynch’s forex trades on its behalf on the new Continuous Linked Settlement (CLS) service for FX.
CLS settlement "100% on time"
NEW YORK -- Despite some disruptions, trade settlement on the new Continuous Linked Settlement (CLS) service for FX has seen 100% ‘on-time’ performance since its September 9 launch.
Payments banks in CLS lead
NEW YORK -- Banks with traditionally strong payments businesses are winning the race for CLS third-party clients, according to consultancy Capco.
Fundtech in front for CLS vendors
JERSEY CITY -- More CLS Settlement Members -- banks holding direct accounts with FX settlement service CLS -- have used Fundtech to process their payments than any other vendor.
Singapore banks link for CLS
Singapore -- Three Singaporean banks will go live this December with a joint back-office processing link to the Continuous Linked Settlement (CLS) service for foreign exchange.
CLS authorises third-party services launch
LONDON -- CLS Bank today (November 4) authorised its Settlement Members to offer Continuous Linked Settlement to their banking customers.
CLS News 1
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CLS reaches $1 trillion volume
The CLS Group last week announced that it has settled payments instructions of more than $1 trillion in value since its September 9 launch.