CLSNet
Our bilateral payment netting calculation service for buy-side and sell-side institutions, enhances risk mitigation for trades not settling in CLSSettlement by standardizing and automating post-trade matching and netting processes.
The global FX market is limited by the lack of a standardized payment netting process for trades settling outside CLSSettlement. This is often exacerbated by the high settlement costs associated with emerging market currencies, which are becoming increasingly important in today’s economy. Our payment netting service for buy-side and sell-side institutions’ FX trades helps address these challenges.
CLSNet is a standardized, automated bilateral payment netting calculation service to support FX trades not settling in CLSSettlement.
Recognizing that the cost of settling non-CLS currencies is higher than for CLS currencies, our netting calculation solution allows you to drive operational efficiency, unlock liquidity and reduce operational and credit risk.
Who should use CLSNet
Asset managers, banks, corporations, hedge funds and non-bank financial institutions.
Participants can submit FX instructions to CLSNet for spot, tom/next day, forwards, non-deliverable forwards (NDFs), swaps and same-day trades for over 120 currencies.1 We offer participants the option of submitting their net payment instructions via SWIFT channels.
1CLSNet’s coverage will include currencies that are not issued by countries on a sanctioned list that would prevent CLS from conducting business with those countries and their issued currencies.