Over the last 18 months CLS Bank
International (CLS Bank) has been settling a growing number of
instructions for foreign exchange trades with its Continuous Linked
Settlement (CLS) service. Over 27 million payment instructions with
a gross value of over $300 trillion have been settled since launch.
CLS Bank is now settling over 120,000 of these instructions each
day, with a gross value of around US $ 1.2 trillion.
Features : CLS benefits shared
Jonathan ButterfieldExecutive Vice President, Marketing and
Communication, CLS Bank International
In its first 18 months of operation CLS has demonstrated its value
to the market. Jonathan Butterfield outlines how its benefits are
increasingly being recognised by Settlement Member banks and
In addition to the 56 Settlement Member banks in over 150
locations, over 120 third party participants are settling via CLS
Bank utilizing services from Settlement Members that are CLS
service providers. Many more are due to go live over the coming
year. We are hearing that participants are realising various
benefits from CLS settlement such as greater efficiency, improved
cash flow and liquidity management, and expanded trading lines.
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