Update on Covid-19 and CLS operations

We at CLS have a responsibility to our employees, the global financial markets we serve and the communities in which we work and live. This responsibility forms the foundation of our approach to the rapidly developing Covid-19 situation.

Update 4 May 2020

We at CLS have a responsibility to our employees, the global financial markets we serve and the communities in which we work and live. This responsibility forms the foundation of our approach to the Covid-19 situation.

Commensurate with our role as a systemically important financial market infrastructure we have taken decisive, pre-emptive measures to safeguard the wellbeing of our people and ensure continued operation of all CLS services. The measures include the closure of our offices to all but a small number of essential employees focused on maintaining the operation of our services. A comprehensive remote working program is in place for all other employees across our global locations. 

In our last update, wide-scale volatility was dominating the market. Current volumes in CLSSettlement – our payment-versus-payment settlement service – have now returned to more normal levels. In April 2020, we settled average daily volumes of 1.2 million instructions, compared to almost twice that in March 2020. Despite the ongoing situation, we continue to settle on time and with no issues or delays.

I want to reassure you that we take our trusted position at the center of the FX market seriously and we remain dedicated – as always – to ensuring our critical services run resiliently and reliably to reduce systemic risk and improve efficiency for our clients and the broader FX market during these challenging times.

We will continue to provide further updates as the situation evolves.

To all our stakeholders please stay safe.

Marc Bayle de Jessé
CEO

Media contacts

For media inquiries and interview requests, please contact:

Greentarget
+44 020 7250 7007