Addressing the key issues in cross-border payments
FX settlement risk in cross-border payments may be reaching levels that threaten global financial stability, due to an increase in trading of currencies that do not have access to payment-versus-payment settlement mechanisms.
In his speech, Marc outlines how CLS is supporting the work of the FSB and CPMI to enhance cross-border payments with a particular focus on FX settlement risk mitigation.
Watch CEO Marc Bayle de Jesse’s keynote speech at the 2021 Central Bank Payments Conference.
“A strong public-private partnership – similar to the one that created CLS in 2002 – is required to build a successful cross-border solution to remove FX settlement risk from global financial markets.”
Chief Executive Officer