Central Banking

CLS develops cleared FX settlement service with LCH.Clearnet

David Puth at CLS
David Puth, chief executive of CLS

Foreign exchange settlement provider CLS is working with multi-asset clearing firm LCH.Clearnet to develop a service that streamlines the settlement of cleared FX products as a way of mitigating settlement risk to industry participants.

"This new service is explicitly for cleared FX products and has a different risk design, which compresses the payment post-clearing, and makes payments smaller and more efficient," says Naresh Nagia, chief risk officer at CLS.

CLS's new service, which applies

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

FedNow – at last

The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.