115999566

CLS-Group

Overview

CLS enhances financial stability through the mitigation of FX settlement risk globally, playing a fundamental role in the FX market.  CLS is the only means by which FX settlement risk can be mitigated with finality, using a unique combination of payment-versus-payment settlement in central bank funds, multilateral payment netting and a standard legal framework, supported by a robust and resilient infrastructure.  CLS also provides the CLS Aggregation Service LLC -- a collective industry solution that delivers a trade compression service to Settlement Members, reducing operational risk and cost issues. CLS Aggregation Services is a joint venture between CLS Bank (51% owner) and Traiana, Inc. (49%), an ICAP company.  In 2012, the US Financial Stability Oversight Council designated CLS as “systemically important” financial market utility.  Launched in 2002, CLS settles FX trades between the following 17 currencies: US Dollar, Euro, UK Pound, Japanese Yen, Swiss Franc, Canadian Dollar, Australian Dollar, Swedish Krona, Danish Krone, Norwegian Krone, Singapore Dollar, Hong Kong Dollar, New Zealand Dollar, Korean Won, South African Rand, Israeli Shekel and Mexican Peso.  Owned by 74 of the world’s leading financial institutions, CLS Group Holdings AG is the parent company of the CLS Group of companies.

sign in or register to read more