CLS says that asset managers are more focused on mitigating settlement risk as it sees uptake in clients using its CLSSettlement service.
The introduction of Japanese funds onto the FX settlement service follows a multi-year effort to onboard the Japanese buy-side community to CLSSettlement.
CLSNet operates on a distributed ledger technology platform for automated bilateral payment netting of FX trades.
Chief strategy and development officer at CLS, Alan Marquard, sits down with The TRADE to discuss the buy-side’s increasingly active role in FX settlement, the importance of the FX Global Code of Conduct for the industry, and provide an update on CLS’s recent blockchain projects.
David Puth will step down as CEO at CLS from 30 September, after taking up the role in 2012.
Nine financial institutions will participate in a proof of concept for platform powered using blockchain technology to share and use various services.
LCH and CLS collaborate on launch of deliverable FX options clearing to reduce counterparty and settlement risk.
Mesirow Financial and Mountain Pacific Advisors have both signed up to the CLSTradeMonitor service for FX transactions.
FX settlement firm CLS has invested $5 million in blockchain consortium R3.
Reporting tool will provide data on legal entity identifiers (LEIs), timestamps, product identifiers and execution venues.