CLS launches same-day FX settlement service with JP Morgan and Goldman Sachs
July 31, 2019

CLS, a market infrastructure group delivering settlement, processing and data solutions, today announces the launch of CLSNow, a bilateral, same-day foreign exchange gross payment-versus-payment (PvP) settlement service. It says that JP Morgan and Goldman Sachs are the first banks to go live on the service.

CLSNow enables banks to exchange currency positions with mitigated settlement risk on a near-real-time basis, it adds. Currencies offered include the Canadian dollar, euro, UK pound sterling, and US dollar. Additional currencies will be added over time.

CLS says the service mitigates FX settlement risk, enhances liquidity management, and provides balance sheet benefits for banks. Currently, the average daily gross value that is settled in the same-day FX market, outside of CLSSettlement and across all currencies that settle in CLS, is approximately US$300 billion.





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CLS, a market infrastructure group delivering settlement, processing and data solutions, today announces the launch of CLSNow, a bilateral, same-day foreign exchange gross payment-versus-payment (PvP) settlement service. It says that JP Morgan and Goldman Sachs are the first banks to go live on the service.

CLSNow enables banks to exchange currency positions with mitigated settlement risk on a near-real-time basis, it adds. Currencies offered include the Canadian dollar, euro, UK pound sterling, and US dollar. Additional currencies will be added over time.

CLS says the service mitigates FX settlement risk, enhances liquidity management, and provides balance sheet benefits for banks. Currently, the average daily gross value that is settled in the same-day FX market, outside of CLSSettlement and across all currencies that settle in CLS, is approximately US$300 billion.



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