CLS committed to settlement risk mitigation under new regulations
68% of respondents to FX Week online poll believe CLS should be central clearer for FX products, but CLS insists it remains focused on mitigating settlement risk
Central settlement provider CLS Bank insists its primary purpose will continue to be the mitigation of settlement risk, despite some suggestion it might take on the role of central counterparty (CCP) for foreign exchange contracts under new regulations for over-the-counter derivatives.
"CLS's principal mission is the elimination of settlement risk from the FX market and so our primary focus has to be the continued expansion of the share of the FX market being settled," said Jonathan Butterfield
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