Settlement Risk
LCH.Clearnet eyes November launch for NDF clearing
London-based CCP is set to launch clearing for NDFs in six currencies in mid-November, having shelved plans for options clearing while banks discuss settlement-related issues with regulators
Forex options clearing complicated by guaranteed settlement requirements
CPSS-Iosco guaranteed settlement requirements make FX options clearing more difficult, say participants
CCPs should become direct members of CLS, poll suggests
72% of poll respondents call for CCPs to join CLS to ensure settlement risk continues to be effectively managed when mandatory clearing is introduced
Barclays Capital signs up to CLS Aggregation
UK bank becomes the ninth CLS Aggregation participant since the platform launched in January 2010
CLS welcomes new Basel working group on FX settlement risk
Work between central banks and supervisors that was halted at the onset of the financial crisis is now set to continue
CLS considers membership category for CCPs
Foreign exchange central settlement provider CLS Bank is considering the creation of a new membership category for central counterparties (CCPs) developing clearing services for FX derivatives, the firm has told FX Week.
CLS committed to settlement risk mitigation under new regulations
68% of respondents to FX Week online poll believe CLS should be central clearer for FX products, but CLS insists it remains focused on mitigating settlement risk
HKEx moves to introduce margins for cash clearing members
HKEx plans to beef up its risk management following the bankruptcy of Lehman Brothers in September 2008 by introducing margin rules and seeking more funds from cash clearing members. The move would bring cash clearing more in line with existing…
CLS volumes and values up year on year in 2010
Average daily volumes settled over CLS in 2010 were up 33% on 2009, with 792,900 instructions settled. Average daily values were also up, by 22%, with $4.1 trillion settled.
Santander live as settlement member
Banco Santander went live as a settlement member of CLS Bank on November 15, bringing the total number of banking and financial institutions comprising CLS's members up to 61.
UBS regains top spot for CLS
UBS swings back into the lead as the top provider of CLS third-party services, as demand for access to the industry utility continues to rise.
CLS to double input capacity by year-end
CLS plans to double the capacity of its trade notification gateway by year-end, which will prevent a repeat of the backlog that emerged from the May 6 spike in trade, officials tell FX Week.
September year-on-year volume increase at CLS
NEW YORK – CLS experienced a year-on-year rise in volumes settled over its system in September.
FX - After the trade is made: the future of the CLS relationship
How will CLS fare as new regulations take hold? Olaf Ransome, director at forex operations consultancy, 3C Advisory in Zurich examines the future for the FX infrastructure
Nomura becomes settlement member of CLS
LONDON - Nomura has gone live as a CLS settlement member and shareholder as of July 12, having previously used third-party settlement services from Citi, the bank announced on July 19.
CLS sets new record for daily settlement volumes
NEW YORK - CLS settled a record 1,758,902 sides today (June 1) surpassing the previous record of 1,758,902 sides set on February 16.
Why aren’t the Greeks using CLS?
A lesson learned from the Lehman Brothers bankruptcy was that, at times of stress, CLS plays a central role in ensuring forex traders are protected. It seems surprising then that only one Greek bank is using the settlement system.
Bank of Canada salutes CLS
TORONTO - Bank of Canada became the latest monetary authority to publicly champion the success of industry utility CLS in ensuring the smooth operation of the foreign exchange market during the financial crisis.
An imbalanced proposition
At the time of going to press, decisions on the future of the foreign exchange markets was still hanging in the balance, as regulators in the US debated the inclusion of forex swaps and forwards into the over-the-counter derivatives reforms.
India adds its angle to clearing debate
CCIL allows economics to drive change
