CLSSettlement
Affiliate settlement membership
Mitigate settlement risk for your FX trades while benefiting from operational efficiencies, in addition to best-in-class netting and liquidity management. Our world-class payment-versus-payment settlement service delivers huge efficiencies and savings for our clients.
Our FX settlement service is available both directly, to settlement members, and indirectly, to third-party participants. Over 75 of the world’s most important financial institutions chose to be settlement members – and over 38,000 more use our service, including banks, funds, non-bank financial institutions and multinational corporations. Our affiliate settlement membership category is aimed at existing members who wish to have more than one entity within their corporate group become a settlement member.
Reduce risk, improve efficiency and increase liquidity
We protect our members and their clients from the most significant risk in the FX market – settlement risk. We do this by simultaneously settling payment instructions relating to FX trades using our unique payment-versuspayment (PvP) system.
We deliver huge efficiencies and savings for our clients, maximizing the advantages of straight-through processing to deliver operational efficiencies and minimize associated costs. In addition, our approach to multilateral netting shrinks funding requirements by over 96% on average, so our clients can put their capital and resources to better use.
Eligibility
We offer a number of membership categories to meet the diverse needs of banks active in the FX market.
Affiliate settlement membership helps members seeking to segregate their FX businesses to manage their own CLS participation and correspondent banking relationships. This removes the reliance on internal clearing and intergroup limits and supports recovery and resolution planning efforts.
Each affiliate settlement member benefits from the risk mitigation, business growth opportunities, and liquidity and operational efficiencies that CLSSettlement provides.