21 June 2021

CLSTradeMonitor gains traction with asset management clients

Increased adoption demonstrates demand for an integrated solution that supports post-trade processes across FX transactions, as FX volumes remain robust.

CLS, a financial market infrastructure delivering settlement, processing and data solutions across the global FX ecosystem, today announced that CLS’s post-trade monitoring and reporting tool, CLSTradeMonitor, has seen solid growth in adoption among asset management clients globally.

By using CLSTradeMonitor, which links directly into State Street’s centralized post-trade dashboard, TradeNeXus, asset managers have a consolidated view of their CLSSettlement information across their accounts with different custodians. This, together with TradeNeXus’s suite of confirmation and settlement workflow solutions, provides clients increased transparency and efficiency in managing their post-trade processes.

More broadly, the growth among asset managers using CLSTradeMonitor through TradeNeXus is testament to efforts by TradeNeXus and CLS to collaborate with major FX service providers to increase the adoption of global standards and improve post-trade efficiency in an evolving and fragmented FX market. The integration with CLSTradeMonitor demonstrates TradeNeXus’s commitment to continue to provide value-add innovation to its clients.

Lisa Danino-Lewis, Global Head of Sales at CLS, commented: “Since its integration into TradeNeXus’s dashboard, we have seen a solid increase in the adoption of CLSTradeMonitor by asset managers globally. The growth is testament to both the breadth of TradeNeXus’s reach within this key community and the buy side's desire to efficiently manage all their FX post-trade workflow within one platform.”

Darrel Brown, Cash & FX Settlements Manager at Baillie Gifford & Co. said: “Having a consolidated view in TradeNeXus of our FX settlement process and the status of all CLSSettlement-eligible transactions across the underlying fund accounts of our custodian universe has proved invaluable in streamlining our post-trade processes. In addition, near real-time trade status visibility across our roster of executing brokers has enabled us to identify and resolve issues in a timely and more cost-effective manner.”

Louisa Kwok, Global Head of TradeNeXus Product, State Street added: “We continue to provide our clients with innovative tools to manage their post-trade workflows. Our collaboration with CLS provides asset managers with enhanced functionality to deliver operational efficiencies to our clients and minimize settlement risk, and these benefits have driven the increase in global adoption witnessed since the launch of this initiative.”

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