Our Community 

Shareholders
CLS Group Holdings AG is owned by some of the world’s leading financial services institutions. Between them, these institutions are responsible for more than half of the value transacted in the global FX market. Each Shareholder has an equal vote in the governance of the CLS Group Holdings. Membership in CLS Bank is generally limited to these Shareholders and their affiliates. Central banks are eligible to become CLS Members without owning shares.

Settlement Members
A Settlement Member must have proven financial and operational capabilities and sufficient liquidity to support its financial commitments to CLS Bank. Each Settlement Member has a single multi‑currency account with CLS Bank. Settlement Members may submit payment instructions relating to their own FX transactions as well as the FX transactions of their customers directly to CLS.

User Members
A User Member does not have an account with CLS Bank, but is instead sponsored by a Settlement Member that settles the User Member’s instructions through the Settlement Member’s account with CLS Bank. Each instruction submitted by a User Member must be authorised by its sponsoring Settlement Member. A User Member may submit instructions relating to its own FX transactions as well as the FX transactions of its customers. In all cases, the sponsoring Settlement Member is responsible for all funding obligations relating to the User Member’s instructions.

Third parties
Third parties are customers of Settlement Members and User Members. Members must handle all instructions and funding on behalf of their third party customers since third parties have no direct access to, or relationship with, CLS Bank.

Third parties are institutions that participate in FX, typically banks, non-bank financial institutions and multi-national corporations. Most of the recent interest and growth in third party participation has come from the investment management industry.

Third party service providers
Third party service providers are Settlement Members and User Members who offer CLS-related services to their customers, so that the customer may achieve the benefits of CLS Settlement as a third party.

Central banks
CLS Bank links to the real time gross settlement (RTGS) systems of the central banks in whose currencies CLS Bank offers settlement. CLS Bank holds an account at each eligible currency’s central bank, through which funds are received and paid.

Vendors
The CLS ecosystem is dependent for its smooth operation on a vendor community that provides software and services to CLS Members.

CLS maintains formal relationships with vendors through its Vendor Registration Programme. It is a flexible programme that offers vendors two types of membership – Registered or Registered Plus.

Depending on the level of membership, registered vendors can benefit from direct access to CLS documentation and interface software, CLS technical support, marketing opportunities, and use of the CLS brand. They are also provided with up-to-date briefings, practical guidance and access to a dedicated vendor website.

If you are a vendor interested in applying for our Vendor Registration Programme, please email the CLS Vendor Relationship team at cls.vendors@cls-services.com.