CLSTradeMonitor goes live with asset managers

New post-trade monitoring tool improves operational efficiency and transparency

2 July 2018

New post-trade monitoring tool improves operational efficiency and transparency

CLS, a market infrastructure group delivering settlement, processing and data solutions, today announces that its new post-trade monitoring and reporting tool, CLSTradeMonitor, has gone live with the first asset managers, including Mesirow Financial and Mountain Pacific Advisors, LLC.

CLSTradeMonitor improves operational efficiency, provides transparency, and reduces operational risk for third parties currently settling in CLS. The service delivers a real-time consolidated view of the match status details for all trades submitted to CLS. For asset managers, CLSTradeMonitor enables executed FX trades to be efficiently managed across all their custodian banks. Trade status details are available across all CLSSettlement providers and counterparties.

CLSTradeMonitor was built in combination with CLSNet, a bilateral payment netting platform built on a distributed ledger technology (DLT) platform. Trade status details for CLSNet will also be made available to clients through CLSTradeMonitor. The combined solution set enables participating institutions to drive process efficiencies such as enabling real-time awareness of currency and counterparty exposures, and reducing operational and credit risk.

Alan Marquard, Chief Strategy and Development Officer at CLS, said: “We are committed to using our trusted position at the center of the FX market, as well as our technology expertise, to create standardized solutions which solve common problems faced by FX market participants. CLSTradeMonitor will assist the broader market, including banks, corporates, and asset managers as they leverage CLSSettlement and CLSNet.”

Joseph Hoffman, CEO of Mesirow Financial Currency Management, said: “Mesirow Financial continuously looks for ways to enhance its operational efficiency and minimize risks for our clients, and CLSTradeMonitor meets both of these objectives. CLSTradeMonitor offers a comprehensive view of the status of our currency trades, helping us to more effectively manage settlement risk. Implementing CLSTradeMonitor further strengthens Mesirow Financial’s commitment to reduce risks and costs for our clients."

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