Cross currency swaps trades have significant settlement risk exposure from the high value of the initial and final principal exchanges. In addition, settling these trades on a gross bilateral basis results in operational inefficiencies and liquidity constraints.
Our payment-versus-payment (PvP) settlement service
CLS settlement members can use our unique PvP settlement system and netting capabilities in conjunction with post-trade processing platforms – MarkitWire and SwapAgent – to mitigate FX settlement risk for cross currency swaps.
Understand the process flow