CLS settlement will migrate to new platform in 2020

The infrastructure provider will launch the new venue based on its own technology next year, with service migration planned for May 2020

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Next big thing: go-live of new platform is key milestone akin to launch of CLS in 2002, says John Hagon

Market infrastructure provider CLS has embarked on a multi-year project to modernise the underlying technology for its main settlement service, with the migration of the entire ecosystem planned for May 2020, FX Week can reveal.

“The go-live of the new platform is a key milestone akin to the launch of CLS in 2002, but with even greater scale, given the significantly higher volume of transactions that CLS settles every day,” says John Hagon, chief operations officer at CLS.

The new venue will

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