CLS
Russia's ruble expected to become major currency by 2015
Market participants are bullish about the ability of the ruble to quickly penetrate the group of top global currencies, but settlement issues remain the biggest obstacle
CLS to open Hong Kong office in bid for Asia expansion
Asia operation will open on August 20 under the leadership of Rachael Hoey, who relocates from London to become head of CLS Asia
Relationship management head to leave CLS
Steve Scully is leaving CLS in New York, where he had worked since 2010, and will join ParFX
FX Week USA: CLS expansion will be key to EM currency growth
EBS is 'holding its breath' for the ruble to be added to CLS, but regulatory affairs head cautions the addition of new currencies will take time
CLS hires RBS risk veteran
Peter Lightfoot has joined the FX settlement risk mitigation utility after more than 32 years at Royal Bank of Scotland
CLS membership will allow more ‘flexibility’, says Natixis
Natixis became a full settlement member in May, as CLS continues its mission to expand the use of the central settlement risk mitigation utility
CLS hits new record as FX volumes spike
Almost three million payment instructions were settled by CLS on Tuesday following a surge in trading volumes towards the end of last week
Japan's Mizuho joins CLS Aggregation Services
CLS and Traiana-backed aggregation engine extends global reach with addition of Japanese bank
Forum supports board of approval to vet Russian nostro banks
Participants at the International Ruble Settlement Forum agree initiative needed to promote use of real-time settlement in Russia
CLS appoints five new board members
New directors at the industry settlement utility selected from a variety of senior advisory and operations roles at major banks
Russian banks weigh up benefits of CLS membership
Local liquidity providers are pivotal to CLS success in the ruble, but Russian banks are not yet convinced of the benefits of membership
New York Fed demands better management of FX risks
Greater use of capital and collateral to mitigate all risks relating to FX trading is crucial, warns Jeanmarie Davis, head of financial market infrastructure at the NY Fed
CLS faces uphill battle to meet currency expansion targets
FX settlement system aims to add another 17 currencies within 10 years, but some caution that CLS membership doesn't make economic sense for certain emerging market currencies
CLS continues hiring spree with new legal head
Alan Marquard, formerly head of legal at Absa Capital, has been appointed chief legal officer at CLS, starting on Monday
EBS hires Richard Kerschner from CLS
Kerschner, who had been at CLS since 2010, takes on the same role – chief corporate development officer – at EBS
CLS hires ex-New York Fed veteran to head regulation
Management changes at CLS continue with the appointment of Dino Kos, former head of FX at the New York Fed, as head of global regulatory affairs
Options clearing pushed to 2014 as solution search begins
As the search for a viable clearing mechanism for FX options begins, market participants suggest clearing won't begin before 2014
CLS appoints chief financial officer
Alexander Filshie will become chief financial officer at CLS, starting February 6, the settlement risk utility announced today
CLS squares up to member onboarding challenges
Having added Swedbank and Lloyds as settlement members in the past two years, CLS has committed itself to further expanding its membership as well as its currencies
Review of 2012: October - December
FX Week looks back on the biggest stories of 2012, concluding with the fourth quarter. To read the original stories, click on the links in black
Review of 2012: July - September
FX Week looks back on the biggest stories of 2012, continuing with the third quarter. To read the original stories, click on the links in black
Review of 2012: April - June
FX Week looks back on the biggest stories of 2012, continuing with the second quarter. To read the original stories, click on the links in black
FX Week Europe 2012: The five-year plan for the FX market
Speaking at the FX Week Europe conference in London, four senior market participants made their predictions about how the FX market will evolve over the next five years
FX Week Europe video: The challenges of FX in 2013
Senior market participants, including David Puth from CLS and Record Currency Management's Neil Record, speak to Kathy Alys about the major challenges of 2012, and their hopes for 2013