Login Language Contact About us Products Communities News & Insights People Our history Created by the market for the market, our unrivaled global settlement infrastructure reduces systemic risk and provides standardization for participants in many of the world’s most actively traded currencies. Home About us Our history We deliver huge efficiencies and savings for our clients: in fact, our approach to multilateral netting shrinks funding requirements by over 96% on average, so you can put your capital and resources to better use. Our complementary products are designed to enable you to manage your risk most effectively across the full FX lifecycle – whether through more efficient processing tools or market intelligence derived from the largest single source of FX executed data available to the market. Learn more about our history and how we are building our business to deliver a suite of targeted solutions to the FX market by applying the expertise, network and trust we have built as a global financial market infrastructure. Our foundations We were established in 2002 as a result of unprecedented co-operation among the global FX community We protect our settlement members and their clients from the most significant risk in the FX market – settlement risk – by settling the payment instructions for FX transactions between counterparties across the globe We began settling FX payment instructions in seven currencies for 39 settlement members We are regulated and supervised by the Board of Governors of the Federal Reserve System and the Federal Reserve Bank of New York Today, CLSSettlement, settles payment instructions in 18 currencies for 70+ settlement members and over 28,000 third-party customers 2021 Emerging market leaders, Alfa-Bank and First Abu Dhabi Bank, are the first banks in Russia and the UAE to join CLSNet 2020 CLSNet expands network with the addition of Actinver, BNP Paribas, Citibank and J.P. Morgan Third-party adoption of CLSSettlement continues: First Philippine bank - Metrobank First Japanese manufacturing company - Sumitomo Electric Industries First Mexican pension fund – Afore Citibanamex First bank in Latin America to offer third-party access – Banco Monex Goldman Sachs joins the cross-currency swaps settlement service CLSMarketData clients gain access to quantitative analytics capabilities through SIGTech Collaboration with Finastra to provide their corporate and buy-side customers with access to CLSNet ANZ onboards the HUF, making it the first Asia Pacific bank to settle all 18 eligible currencies Capitolis and Capitalab join TriOptima as approved providers under the CLSOptimization banner Seamless service delivery throughout the Covid-19 pandemic 2019 Buy-side uptake of CLSSettlement continues Including the first Japanese pension fund and asset managers joining CLSSettlement CLSNow goes live A bilateral same-day FX gross payment-versus-payment settlement service First Chinese third-party bank China CITIC joins CLSSettlement FX Forward Volume dataset The first data product for the FX forward market 2018 CLSNet goes live CLSClearedFX goes live with LCH CLSTradeMonitor goes live Additional data products launched to enable better FX risk management and smarter business decisions – CLSReporting and CLSFX Forecast data CLS expands FX forward compression service to third parties Mitsui becomes first Japanese corporate to settle currency trades via CLS First Japanese funds join CLSSettlement 2017 FX Global Code published CLS announces major new innovations for the FX market with a focus on settlement, processing, and data services (September) Nippon Life becomes first NBFI in Japan to settle currency trades via CLS (September) CLS signs Statement of Commitment to FX Global Code Fund management institutions can access CLSSettlement in Korea for the first time CLS introduces alternative models for membership – affiliated and non-shareholder settlement memberships 2016 CLS makes aggregated FX trade data available via subscription Samsung Securities becomes first NBFI to settle on CLS system in South Korea 2015 FX compression service launched with Nex TriOptima Cross currency swap settlement launched with IHS Markit HUF go-live 2014 US Federal Reserve issued rule to incorporate PFMI into Regulation HH CLS wins landmark patent case (Alice) 2013 CLS introduces Same-Day Settlement for US and Canadian dollar trade BCBS issues FX settlement risk guidance 2012 US treasury exempts FX swaps and forwards from mandatory clearing New principles for FMIs published (CPSS-IOSCO) CLS is designated as a systemically important Financial Market Utility (FMU) 2008 Two more currencies added – Israeli shekel (ILS) and Mexican peso (MXN) CPSS publishes a report: Progress in Reducing Foreign Exchange Settlement Risk which renews the focus on FX settlement risk reduction Financial crisis 2007 Settlement extended for OTC credit derivatives (DTCC partnership) 2004 Four more currencies added (HKD, KRW, NZD, ZAR) 2003 CLS adds four more currencies (DKK, NOK, SEK, SGD) 2002 CLS is launched with 39 Members and seven currencies (AUD, CAD, EUR, JPY, CHF, GBP, USD) 1996 Allsopp Report / BIS-CPSS 1974 Bankhaus Herstatt fails About us Executive management committee Board of directors Shareholders Corporate governance Regulation Our history Financial reports Modern Slavery Act Statement CLS Corporate overview Download ABOUT Shareholders Board of directors Executive management committee Corporate governance Regulatory affairs Financial reports Our history Modern Slavery Act Statement PRODUCTS Settlement Processing Data COMMUNITIES Settlement community Vendor community Regulators NEWS & INSIGHTS News Data insights Insights Events Publications FX Trade Volume reports CAREERS People Sitemap Terms Cookies Accessibility Privacy Awards © Copyright CLS 2021 By using this site you agree to these cookies being set. 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