Margaret Law, Head of Client Management, APAC at CLS, commented: With the growth of FX trading particularly in Asian currencies, settlement risk has become an increasing concern for banks in the region, and it is essential that they consider executing appropriate FX settlement risk mitigation measures. We anticipate that other banks in Asia Pacific will…
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Héctor Lagos, CEO, Banco Monex, commented: As a CLSSettlement member for nearly two years, we have benefited from the increased liquidity, reduced settlement risk and greater operational efficiency the service provides. We look forward to facilitating access to CLSSettlement for our clients as third parties and believe this will help to build a more robust…
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CLS, US settlement services provider in the foreign exchange market, announced yesterday the first Japanese manufacturing company to access CLSSettlement as a third-party participant, Sumitomo Electric Industries (SEI). SEI is manufacturer of electric wire and optical fiber cables and is ranked in the Fortune Global 500. The company has a diverse global business portfolio in…
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CLS announced today that Metrobank just joined CLSSettlement as a third-party participant. Metrobank is the first Philippine bank to access CLS’s settlement service and UBS, a CLSSettlement member, will provide access to Metrobank. The increase in third-party participation in CLSSettlement throughout the region has been driven by a number of factors: since 2018, the overall…
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CLS has just announced that it has included China CITIC Bank International Limited (CNCBI) to its CLSSettlement as a third-party client. CLS noted that CNCBI is the first Chinese bank to have access to CLSSettlement. Industry initiatives such as the introduction of the FX Global Code have further increased awareness of the need to adopt…
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CLS Group just reported its annual volumes and shared that in 2018 it experienced a 2.5% increase in new business in its FX settlement service CLSSettlement. The average daily settlement volume was USD130 billion. CLS has already released record traded volumes in CLSSettlement in its H1 2018 interim report. More than 90% of this growth…
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CLS today announced that a Japanese pension has officially started using its FX settlement system (CLSSettlement), which also mitigates risk, via State Street Trust and Banking Co., Ltd. CLS is an important player within the global Forex markets where it provides data and processing solutions as well as FX settlement services. This is the first…
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CLS Group, the market infrastructure provider of risk mitigation services to the global FX market, has just announced that CLSNet is now live with investment bank Goldman Sachs (NYSE:GS) and US based investment banking giant Morgan Stanley (NYSE:MS). Six additional members from North America, Europe and Asia, including Bank of China (Hong Kong) will join…
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CLS Group (CLS), the market infrastructure provider of risk mitigation services to the global FX market, has just announced its Interim Financial Report, releasing record traded volumes in CLSSettlement, but reporting a loss for the six months to 30 June 2018 from a financial perspective. The complete message from Ken Harvey, David Puth and Trevor Suarez…
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CLS, a market infrastructure group delivering settlement, processing and data solutions, has just announced that the first Japanese-domiciled funds have access to CLSSettlement as third-party clients. Asset manager Fidelity International and The Master Trust Bank of Japan, Ltd (MTBJ), a trust bank exclusively engaged in asset management, have the first Japanese-domiciled funds to settle foreign…
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