CLS Bank
Santander live as settlement member
Decision to join CLS Bank follows change in policy at Citi, Santander's former third-party CLS provider
Basel III won’t be a problem if implemented correctly, says Bank of England
Latest Financial Stability Report stresses importance of long transition to new rules, and concerns over central counterparty clearing
Forex markets hope for CCP exemption
All settled?
CFTC rules increase credit risk
Proposed rules to limit leverage on margin FX trading accounts at retail forex brokers will have the unintended consequence of increasing counterparty risk, according to Josh Levy, managing director at Tactical Asset Management.
Renminbi realignment
The Hong Kong Monetary Authority is staking its claim to become the de facto offshore settlement centre for renminbi amid expectations the Chinese currency will one day usurp the greenback as the dominant medium of exchange in the region. But there are…
Sponsored forum: Settlement risk
Unlike other asset classes, the settlement mechanisms in the foreign exchange market appear to have worked well, even when market turmoil was at its height late last year. Risk and roundtable partners CLS, Citi, Credit Suisse, Deutsche Bank and HSBC…
Risk Forum: Settlement Risk
A panel-debate style forum moderated by Risk's Nick Sawyer on settlement risk in the foreign exchange marketplace.
Taking time to settle
Regulators have looked to eliminate any gaping holes in risk management since the onset of the financial crisis. But with the focus firmly on counterparty credit risk, has settlement risk fallen off the radar? By Alexander Campbell
CLS: US-Canada forex settlement due in 2010
CLS Bank, the multi-currency cash settlement system provider, is aiming to settle same-day US dollar/Canadian dollar and US dollar/Mexican peso currency trades by the end of 2010, according to chief executive Rob Close.
Bank of China becomes CLS Group shareholder
Bank of China (BoC) has become the first Chinese bank with a shareholding in settlement provider CLS Group.
FirstRand Bank gives ABN Amro CLS mandate
ABN Amro has been awarded a mandate by FirstRand Bank for third-party continuous-linked settlement (CLS) services in South Africa.
Rivals gear up for forex clearing
The stage is set for a central counterparty clearing (CCP) system for foreign exchange as two potential providers moved their plans forward last week, reports RiskNews' sister publication, FX Week .
CLS for FX is 'changing the front-office'
The continuous-linked settlement (CLS) service for foreign exchange trades has changed credit and trading practices among the majority of its users, reveals research from IT consultancy TowerGroup published this week.
DrKW criticises CLS for not introducing central clearing
Continuous-linked settlement (CLS), the global system to reduce foreign exchange transaction risk, should have been set up to provide banks with a centralised clearing facility, rather than just to eliminate ‘Herstatt risk’, according to a senior banker…
Banks Tackle Op Risk
Banks misplacing millions of pounds and dollars may sound absurd, but operational risk makes it more commonplace than you might think.
UBS takes 20% of active third-party CLS business with Saxo deal
UBS believes it has gained a 20% share of the third-party business conducted via the continuous-linked settlement (CLS) system. UBS said Denmark's Saxo Bank went live on the service today.
Continuous-linked settlement - The Asian connection
Several Asian banks are already using continuous-linked settlement to reduce foreign exchange risk, but with more Asian currencies set to be added over the next year, the number of users looks set to rise further.
Refco signs up as non-bank member to JP Morgan Chase’s CLS service
Refco Capital Markets has selected JP Morgan Chase as its provider of continuous-linked settlement (CLS) services.
CLS impact 'neutral' for RTGS systems
The introduction of the continuous-linked settlement service (CLS) for foreign exchange has had little effect on flows and liquidity on real-time gross settlement systems (RTGS), according to the latest Bank of England (BoE) quarterly bulletin.
STP break puts banks at risk
Third-party banks using the continuous-linked settlement (CLS) service may be subject to increasing operational risk as a result of a breakdown in straight-through processing (STP), reports Risk's sister publication FX Week .