Move is set to enable multilateral netting across FX transactions, and marks an expansion of CLS’ PvP settlement offering.
The proposals span post-trade transparency and simplified reporting concerns, and follow the FCA’s recent consolidated tape and transaction reporting consultations, which closed in February 2026.
The new offering is expected to complement the firm’s existing public cloud partnerships with Amazon Web Services (AWS), Microsoft and OVHcloud.
Individual has been promoted after almost two years at the hedge fund, and previously served at firms including Balyasny Asset Management, AllianceBernstein and Societe Generale.
The new offering – Eolas – is designed to stamp out fabricated data and rogue AI responses, to provide traders and heads of desks with real-time insights to drive best execution and resolve issues quickly.
Trading of the contracts is currently scheduled to go live on 28 April, and will also see BNP Paribas acting as a market maker to support liquidity, subject to regulatory approval.
The past week has seen a swathe of significant moves across the buy-side, including a head of trading departure, as well as several other senior appointments.
Individual has spent the last eight years at the asset manager, having initially joined as head of equity trading.
Industry stalwart initially joined the firm in 2001, working with the fixed income trading team.
The development aligns with ongoing efforts to form a regional infrastructure layer connecting Argentina, Chile, Colombia and Peru, and is set to provide institutional clients across the world with real-time market data access, The TRADE understands.