Bank of America connects to CLS’s CCS service
The integration will allow Bank of America clients to mitigate cross currency swaps-related risks, and is set to support liquidity optimisation and reduce daily funding requirements.
Tag: CLS
The TRADE predictions series 2026: Post-trade innovation
Market experts from Nasdaq, LSEG, CLS and ION delve into the regulation to keep an eye on, the increasing relevance of digital assets as they increasingly converge with traditional finance, and the emerging post-trade trends expected to continue into 2026.
U.S. Bank becomes third member to join CLSSettlement this year
The move also makes the firm, which is the fifth largest bank in the US, the service’s seventy-sixth settlement member.
OTP Bank becomes CLSSettlement’s seventy fifth settlement member
The Hungarian bank is the second settlement member to join the firm this year, following the re-addition of ABN AMRO in June.
CLS redesigns CLSClearedFX service to enhance settlement offering
The new redesign is expected to provide a consolidated settlement model to enhance risk mitigation, operational efficiency and liquidity; LCH ForexClear is the first CCP to go live on the platform.
Société Générale connects to CLS’s cross currency swaps service
Use of the service will enable participants to benefit from multilateral netting against all FX transactions.
CLS delivers first analysis of T+1 impact on FX settlement
The multi-currency settlement system has seen no decrease in values or volumes suggesting no shift to bilateral settlement, though some trends are emerging with regards to submissions to CLS.
FX trading has not shifted due to T+1 as some had predicted
The drama around cut-offs at CLS and custodians prior to the T+1 implementation had many believing the FX market would alter drastically, but so far, it’s business as usual over the first three weeks of the shortened settlement cycle as the first big public holiday – and major test – approaches.
Barclays connects to CLS’s cross currency swaps service
The service mitigates settlement risk for CCS transactions, while also providing multilateral netting against all other FX transactions.
CLS decides not to move FX settlement cut-off for T+1 following evaluation
Members of the multi-currency settlement system claim that development to accommodate a move in the initial pay-in schedule could take “considerable time to implement”, therefore CLS will not shift its cut-off but will analyse T+1 impact in June and September following cycle shortening.