The move marks a change in FX settlements, allowing market participants to significantly reduce their settlement exposure and associated risks.
The pilot within CLSSettlement addresses various public policy initiatives to encourage PvP adoption.
New datasets will improve users’ analysis of short- and longer-term FX market trends to provide insight into market dynamics.
CLS and IHS Markit said with the addition of HSBC there are nine settlement members live on the cross-currency swap service including several major banks.
The project, named Convergence, includes the migration of CLSSettlement onto its Unified Services Platform.
Increased traction demonstrates demand from the buy-side to manage all FX post-trade workflow within one platform, claimed CLS.
Gaze into The TRADE's crystal ball for insights from industry participants across the fixed income and post-trade space on their predictions for the year ahead.
Partnership between CLS and Finastra aims to address increased demand from buy-side firms for a centralised post-trade management infrastructure.
CLS expands list of settlement members for its combined cross-currency swaps service with IHS Markit, as Goldman Sachs becomes the latest to sign up.
Weekly analysis of key currency pairs by Mosaic Smart Data, CLS and MUFG will be available to market participants free of charge.