Settlement Risk
Tackling rising FX settlement risk with DLT
Distributed ledger technology provides a remarkable opportunity to mitigate the rising settlement risk within the FX industry, explains Alex Knight, head of Europe, the Middle East and Africa at Baton Systems.
CLS: mitigating settlement risk is crucial as volatility rises in 2019
Geopolitical factors expected to drive markets this year
CLS settlement will migrate to new platform in 2020
The infrastructure provider will launch the new venue based on its own technology next year, with service migration planned for May 2020
CLS onboards Japanese funds
Japan-domiciled funds gain access to settlement through CLS as third-party participants for first time
Banco Monex becomes first Mexican member of CLS
The bank is the only CLS settlement member in one of Latin America’s largest FX trading centres
CLS volumes dip in March, but it’s a record Q1
The settlement utility records average daily volumes of $1.87 trillion for Q1 2018
BoJ prepares to link settlement system with Hong Kong
The connection will provide a new pathway for Japanese banks to obtain Hong Kong dollars and cut the exchange-rate cost
Mitsui & Co begins settling trades through CLS
It is the first Japanese corporate to join the service via third-party access
CLS volumes hit record high in February
Pickup in participation from buy side contributes to growth in volumes
CLS: politics and technology will be main drivers in 2018
Distributed ledger technologies will be used increasingly while cryptocurrencies gain ground
CLS settled volumes rise 11% in September
Spot, forwards and swap volumes picked up pace compared with August and September last year
CLS announces major strategy shift
The settlement utility will diversify into processing and data to become a business with three major service areas
CLS to replace core settlement system
Overhaul will leverage conventional technology rather than the blockchain solution underpinning the new CLSNet service
CLS launches two new membership categories
Non-shareholder members will pay a fee to gain equal rights and access to the system as CLS shareholders
CLS volumes dip in October
Volumes were down 1.4% from September and $135 billion off the highs reached in June
FXCH clears first institutional FX spot trade on blockchain
FX Clearing House from Ireland-based Baxter FX sets its sights on becoming the go-to CCP for all spot FX participants
April CLS volumes point to higher BIS figures
Bumper month will be basis for BIS triennial survey; ticket sizes likely grew as instruction number fell but value rose
Marquard takes on strategy role at CLS
He is still general counsel and representative for legal matters to CLS's executive management committee and CLS Group board
CLS discusses renminbi inclusion with PBoC
The talks, which have been going on for several years, are still in the exploratory phase
Banks eye Traiana for EM FX netting service
Industry turns to the Icap-owned utility as CLS's emerging markets push stalls
FirstRand joins CLS
The South African bank joins the currency settlement utility, raising its membership to 64