CLSNet is a bilateral payment netting calculation service, for foreign exchange trades. As a centralized platform, the service delivers operational risk mitigation by standardizing and automating the net calculation process.
Market adoption of CLSNet
Eight of the top ten1 global banks have joined our FX netting calculation service with an average daily netted value2 of net calculations consistently over USD115 billion over the last 12 months. But it isn’t just for banks.
Funds, corporates and non-bank financial institutions
CLSNet improves the process of netting
To reduce payment obligations exposed to settlement risk, particularly in emerging market currencies such as CNH,THB,PLN,CZK and TRY.
1According to the 2022 Euromoney Foreign Exchange Survey.
2 Netted value refers to bilateral net payment amounts calculated by CLSNet
3CLSNet’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.
Leveraging our unique position at the center of the FX industry and our market infrastructure experience, we are working to address settlement risk for a broader range of currencies and market participants.
Our priority is to deliver functional enhancements to CLSNet that will deliver immediate benefits to our clients in terms of mitigating risk, optimizing liquidity and creating operational efficiencies for currency flows outside of CLSSettlement.