CLSClearedFX is the first payment-versus-payment settlement service specifically designed for over-the-counter (OTC) cleared FX products. It enables central counterparties and their clearing members to safely and effectively mitigate settlement risk when settling cleared FX and derivative products.
The service delivers capital, margin, leverage, liquidity and operational efficiencies for industry participants, and is consistent with goals set by the G20 in response to the 2008 financial crisis to mitigate systemic risk through the clearing of standardized OTC derivatives. LCH (OTC FX options) and Eurex Clearing (cleared cross currency swaps) are live on CLSClearedFX.
CLSClearedFX process flow