Settlement
CLS to replace core settlement system
Overhaul will leverage conventional technology rather than the blockchain solution underpinning the new CLSNet service
Noble launches its first FX product
Noble FX provides real-time settlement and aims to solve the credit gap through peer-to-peer connectivity
CLS settled volumes continue upward trajectory in March
Spot, forwards and swap volumes inched up compared with February
CLS extends payments-netting service to all global currencies
CLSNet, expected to go live in Q2 2018, will comprise 140 currencies
CLS volumes slightly up in February
Swaps and forwards continue to show steady growth, but spot is down 23% on the year
Hu to exit SEC
Wenchi Hu is an associate director in the division of trading and markets
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
CLS upgrades infrastructure channel for settlement members
A new member gateway based on Swift ISO standards is expected to save up to $500,000 per settlement member
CLS to launch payments netting service
CLS Netting, expected to go live in late 2017, will allow institutions to net trades currently not included in the CLS settlement service
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
Samsung Securities gains third-party access to CLS
The securities company is the first non-bank financial institution to join CLS in South Korea
Malaysia and Thailand ink 'milestone' settlement deal
Asean economies aim to settle more trade and investment in local currencies. The initiative will reduce ‘exposure to volatility of global settlement currencies' and business costs
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
European regulatory chief to leave CLS
Gabor Butor, head of European regulatory affairs, will leave CLS at the end of this week after two years
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
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 hires RBS risk veteran
Peter Lightfoot has joined the FX settlement risk mitigation utility after more than 32 years at Royal Bank of Scotland