CLSNet

CLSNet is a standardized, automated bilateral payment netting calculation service. It provides participants with a legal confirmation of net payment obligations through a single common record which streamlines post-trade matching and netting processes.

We build the community.
You join the world’s leading banks in FX.
Participation in the service has increased significantly, with the average daily notional of net calculations exceeding USD100 billion; a 431% increase year-on-year (H2 2022).

CLSNet growth

We standardize through a centralized platform.
You gain certainty on net payment obligations.
Buy side, sell side and corporates are benefiting from the centralize, standardize and automated netting reconciliation processes to deliver operational risk mitigation, across 120 currencies.

We calculate net FX payments.
You comply with the FX Global code.
As a centralized platform, the service also supports adherence to principles 35 and 50 of the FX Global Code.

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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.

Advancing settlement risk mitigation

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.

FSB roadmap and FX Global Code guidance