CLS Collaborates with TriOptima to Deliver New FX Compression Service
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CLS and
"This collaboration creates value for our settlement members through additional services that use our core operational and IT capabilities and those of
"We will continue to invest in new technology to ensure we provide the best possible risk mitigation service to the FX market."
"We are very pleased to be working with CLS and its members to deliver another important risk management tool to the industry. We believe this kind of collaboration serves the best interests of our mutual customers."
CLS and
-ends- About CLS CLS enhances financial stability by providing risk mitigation services to the global FX market. We operate the world's largest multi-currency cash settlement service to mitigate FX settlement risk for our settlement members and their clients globally.
With more than 60 settlement members, comprising the world's largest financial institutions, and third-party clients, including banks, funds, non-bank financial institutions and multinational corporations, we settle FX trades across 17 currencies2.
CLS mitigates settlement risk by simultaneously settling the payments on both sides of an FX trade on a real time basis. We do this using our unique payment-versus-payment settlement service which is linked to the real time gross settlement systems of the 17 currencies eligible for CLS settlement. The settlement of these payments and associated funding is final and irrevocable.
In
For further information, please visit the CLS website. ® CLS and the CLS logo are registered trademarks of
Its compression service triReduce is currently offered in numerous asset classes such as cleared and uncleared interest rate swaps (including OIS and FRAS), cross currency swaps, credit derivatives, and commodity swaps, with FX forwards and inflation swaps coming soon.
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