CLS proposes second-tier FX settlement system

Stripped-back system for EM currencies mooted to tackle rising settlement risk

FX settlement risk

With foreign exchange settlement risk on the rise, CLS is considering creating a second-tier settlement system for emerging market currencies that are not eligible for its main service, in a bid to encourage a wider adoption of payment-versus-payment (PvP) settlement methods. 

The issue was discussed during the July 15 meeting of the New York Fed’s FX committee (NYFXC) in response to an increase in settlement risk in emerging market currencies deemed ineligible by regulators for use at CLS. 

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 customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a FX Markets 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 indvidual account here: