CLSNet

Our bilateral payment netting solution, built on a distributed ledger technology (DLT) platform, allows you to drive operational process efficiencies, such as optimizing intraday liquidity, enabling real-time awareness of currency and counterparty exposures, and reducing risk.

Reduce the amount of funds and number of payments required to settle your FX trades not settling in CLSSettlement, while benefiting from enhanced operational and risk management. Our payment netting solution, built on distributed ledger technology, introduces greater standardization and efficiency to the FX market.

CLSNet[1] is a standardized, automated bilateral payment netting service for FX trades that are settling outside the CLS settlement service.

Over 24,000 third-party clients use our service

It is aimed at buy-side and sell-side clients across the FX market, including banks, brokers, broker dealers, asset managers, hedge funds and corporations.

Participants will be able to submit FX instructions to CLSNet for spot, tom/next day, forwards, non-deliverable forwards (NDFs), swaps and same-day trades for more than 140 currencies[2]. We will also offer participants the option of connecting to the service through existing SWIFT channels or distributed ledger technology (DLT).

 

The benefits

  • Operational risk mitigation
  • System processing and operational efficiencies
  • Liquidity enhancements

[1]  The launch of the service is subject to any necessary approvals.

[2]  CLSNet’s coverage will include all currencies associated with jurisdicitions that are not on an official black/grey or sanctions list that would prevent CLS from conducting business with that jurisdiction.

The CLSNet Service:

     


Mitigates FX settlement risk in the world’s single largest market



Is available directly or indirectly to FX market participants


Settles payment instructions relating to transactions in 18 currencies

CLSNet