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.
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.
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.