CLS is 'changing the front-office'

More than three-quarters of CLS settlement members – those holding direct accounts with the settlement service – report seeing changes to the credit approval process for CLS counterparties.

This is taking the form of reduced use of credit limits – 59% of settlement members report this as a result of using CLS – and the elimination of settlement limits altogether for CLS counterparties, according to 15% of settlement members.

CLS expects these percentages to rise as use of the service increas