CLS Bank
CLS to include South Korean won
CLS Bank, which operates the continuous-linked settlement service for foreign exchange, plans to include the South Korean won as a CLS-eligible currency.
Third-party CLS take-up slows
Take-up of the continuous-linked settlement (CLS) service by third-party banks is slowing as a result of time-consuming back-office changes and a waning sense of urgency, CLS project managers told RiskNews ' sister publication, FX Week .
Tech glitch strikes CLS
NEW YORK — The failed settlement of over 20,000 Australian dollar and Japanese yen trades on the Continuous Linked Settlement (CLS) service last week was caused by multiple technical faults, senior CLS officials told FX Week.
Tech glitch strikes CLS
The failed settlement of more than 20,000 Australian dollar and yen trades on the continuous-linked settlement (CLS) service last week was caused by multiple technical faults, senior CLS officials said.
Merrill to settle its forex trades via Citi
Citigroup has won a coveted deal to settle Merrill Lynch’s forex trades on its behalf on the new Continuous Linked Settlement (CLS) service for FX.
CLS settles a trillion a day
NEW YORK — Continuous Linked Settlement, the new settlement service for foreign exchange, settled a record $1 trillion in FX payments on February 18.
Continuous-linked settlement: Extending to Asia
Continuous-linked settlement – the initiative designed to eliminate forex settlement risk – went live at the end of last year. But with only Australia and Japan represented in the first batch of currencies, what will CLS mean for Asia’s banks?
CLS hires ABN Amro’s Butterfield
Jonathan Butterfield has joined CLS Bank in New York as executive vice-president, marketing and communication.
CLS Is Live. What Next?
CLS participants breathed a huge sigh of relief when the long-awaited system launched successfully. Is anyone ready to start expanding the system to new products?
Risk managers set to benefit from drive to address FX operational risks
Foreign exchange risk managers are waking up to new ways of addressing operational risk in the FX markets, Paul Fisher, head of the foreign exchange division at the Bank of England, told delegates at FX Week 's first congress in London this morning. As a…
Clients of settlement members go live today on CLS
Clients of banks that have signed up as settlement members to CLS Bank can from today have their foreign exchange transactions settled on continuous linked settlement (CLS), the system built to reduce risk in the global forex markets.
JP Morgan signs up 18 CLS third-party customers
JP Morgan Treasury Services, a unit of JP Morgan Chase, has signed up 18 third-party service customers to allow them access to continuous linked settlement (CLS). The third-party service contracts allow counterparts to settle their foreign exchange…
Fundtech enhances CLS product offerings
Jersey City-based Fundtech has launched two new services to extend its Continuous Linked Settlement (CLS) product range. IOSwaps Manager and a ‘third party’ PayPlus for CLS are aimed at extending the ability of financial institutions to eliminate risk…
CLS endorses ‘in-principle’ Hong Kong and New Zealand dollars
CLS Bank, which launched continuous linked settlement (CLS), the global foreign exchange settlement system, on September 9, has said that Hong Kong and New Zealand dollars should become eligible currencies once they have satisfied CLS Bank rules.
Banks go live on CLS
Continuous Linked Settlement (CLS) - the long-awaited industry initiative to cut settlement risk for foreign exchange - will go live today.
CLS could be protected settlement system under Singapore law
Continuous Linked Settlement (CLS), the global payments system that aims to reduce settlement risk in international currency markets, could be a legally protected designated system under proposed Singapore laws, Singapore financial regulators said today.
Bank race for CLS clients
The world’s top FX banks are racing against time – and each other – to sign up a potential 2,000 third-party banks and institutions as clients for a new forex settlement system, Continuous Linked Settlement (CLS).
CLS completes first live trials
Continuous Linked Settlement (CLS), a global system designed to substantially reduce foreign exchange transaction risk by settling trades in real time, moved a step closer to implementation today with the completion of its first live trials.
CLS turns to vendors for cash injection
Vendors that want to stay up-to-date with Continuous Linked Settlement Services (CLS) and use its brand mark to market their related products will have to pay an annual fee of £2,500 ($3,825) from August, said a spokesperson at CLS in London.
Switching on CLS
As the continuous linked settlement initiative prepares for a delayed launch later this year, firms that have been involved since the beginning outline how they hope to recoup and build on their investments.
IntesaBCI selects mpct’s CLS Server
Italy's largest banking group, IntesaBci, has selected mpct Solution’s CLS (Continuous Linked Settlement) Server to power its CLS services, which will run on the Sun Solaris Unix platform at the bank's Milan headquarters.
CLS hit by yet more set-backs
CLS (Continuous Linked Settlement) Bank, a financial industry initiative established to mitigate settlement risk in the foreign exchange market, has been forced to once again delay the launch of its service. The latest estimate for the start of CLS…