Cross currency swaps

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Mitigate FX settlement risk, improve operational efficiencies and reduce your liquidity and payment demand for cross currency swap trades using our world-leading settlement service.

Cross currency swap trades have significant settlement risk exposure from the high value of the initial and final principal exchanges. In addition, settling these trades on a gross bilateral basis results in operational inefficiencies and liquidity constraints. Our payment-versus-payment (PvP) settlement service helps you mitigate settlement risk, while delivering operational and liquidity efficiencies for cross currency swap trades.

CLS settlement members can use our unique PvP settlement system and netting capabilities in conjunction with post-trade processing platforms – MarkitWire and SwapAgent – to mitigate settlement risk for cross currency swap trades.

CLS settlement members benefit from a standardized process for the payments related to cross currency swap trades by incorporating them into CLSSettlement. We receive transaction data in the form of the notional exchanges associated with cross currency swaps processed using MarkitWire and SwapAgent. CLS settlement members can opt to use one or both platforms as submission channels to CLSSettlement.

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