CLSNet

CLSNet is a standardized, automated bilateral payment netting calculation service across 120 currencies¹ for buy-side and sell-side institutions. As a centralized infrastructure, it provides users with a single common record of their net payment obligations to streamline post-trade matching and netting processes.

Provides mutual netting payment calculation and operational screens/reports
Supports adherence to Principles 35 and 50 of the FX Global Code
Automates netting reconciliation
Delivers operational risk mitigation
Enhances risk mitigation for trades not settling in CLSSettlement
Delivers matching and legal confirmation of 120 currencies
Supports spot, swaps, forwards, same day and NDFs trade instructions

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Improves

Intraday liquidity
Operational efficiencies through automation
Post-trade processes

Reduces

Funding and number of payments required
Credit consumption
Intraday overdraft costs and correspondent bank charges
Communication required to confirm positions

1 CLSNet’s coverage includes currencies that are not issued by countries on a sanctioned list that would prevent CLS from conducting business with those countries and their issued currencies.2 Subject to all necessary approvals.

Exploring alternative PvP

Leveraging our unique position at the center of the FX industry and our experience with CLSNet, we are working in partnership with the public and private sector to develop an alternative PvP solution that will address settlement risk for currencies that are not currently eligible for CLSSettlement.

Proposed alternative PvP²