CLS develops cleared FX settlement service with LCH.Clearnet

New product settlement offering aims to minimise risk

David Puth at CLS
David Puth, chief executive of CLS

Foreign exchange settlement provider CLS is working with multi-asset clearing firm LCH.Clearnet to develop a service that streamlines the settlement of cleared FX products as a way of mitigating settlement risk to industry participants.

"This new service is explicitly for cleared FX products and has a different risk design, which compresses the payment post-clearing, and makes payments smaller and more efficient," says Naresh Nagia, chief risk officer at CLS.

CLS's new service, which applies

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