Settlement Risk
CLS sets go-live date for Hungarian forint
CLS and Hungary's central bank launched the forint project in February 2014
CLS develops cleared FX settlement service with LCH.Clearnet
Designed specifically for central counterparties and cleared FX products, the service aims to minimise risk in the industry
CLS volumes drop in February as market returns to 'normal'
Settlement utility sees volumes and instructions slide in February
CLS on track with Hungarian forint adoption
Currency will be added to settled units in November
SNB pushes CLS volumes to record high and platforms benefit
Currency trading activity gets off to a strong start in 2015
CLS hits settlement record
Settlement infrastructure completes record number of instructions in 45 minutes after extensive IT upgrade
CLS faces up to Eastern realities
CLS suspends operational trials of the ruble and will delay the currency's adoption from its original November deadline
Achievement Award: David Puth
Puth has spent more than three decades in financial markets. He is chief executive of CLS, the currency settlement utility
CLS will adhere to US sanctions on Russia
The ruble looked set to become the 18th currency to be settled through CLS, and while both the CBR and the industry utility are committed to the deadline, political uncertainties remain
CLS appoints Ken Harvey as chairman of the board
Harvey will take over from Hartsink later this year as chairman of the board, when Hartsink retires after seven years
CLS set to add Russian ruble in November, source says
Industry settlement utility CLS is poised to add the ruble to its currency universe in November
Hungary targets forint entry into CLS
Hungary's central bank has committed itself to bringing the currency into CLS, FX Week understands, and sources believe it could be added as early as next year
Perspectives on 2014: David Puth, CLS
Working with dealers and central counterparties on settlement of centrally cleared FX options is a ‘high priority strategic objective’ for 2014, says CLS chief executive David Puth
FX clearing a priority for 2014, vows CLS chief
Working with banks and CCPs to facilitate central clearing of OTC FX options is 'high priority strategic initiative' for CLS this year, says chief executive David Puth
CLS raises £160 million capital from shareholders
Hefty capital raise completed last week to enable CLS to meet demanding new capital requirements and support future growth
CLS same-day settlement 'positive' for CAD market, says FX committee chair
Canadian FX committee chair Donna Howard welcomes launch of same-day settlement through CLS for USD/CAD, but acknowledges associated challenges
CLS launches settlement for same-day USD/CAD trades
Settlement risk mitigation firm is due to launch a new settlement session this week for the trades settled on a same-day basis
FX options clearing a 'big challenge', warns NY Fed official
Speaking at the FX Invest West Coast conference, the New York Fed's Jeanmarie Davis addressed the challenges associated with clearing and settlement of FX options
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
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 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
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