CLS: can’t live with ’em, can’t live without ’em?

FX settlement giant not fast on its feet, say dealers and challengers, but hard to knock down

Battered-top-dog
Montage: Risk.net

CLS, the foreign exchange settlement colossus, is purpose-built to battle settlement risk and, since its creation, has provided the go-to defence against it. But the evolution of FX markets has left the utility giant looking leaden – and ill-equipped to tackle a more diverse universe of currencies and trading partners.

The fragmentation of liquidity in FX market and the growing relevance of emerging market currencies has renewed focus on the rise of settlement risk – the danger that a firm pays

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 [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net 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 here: