CLS to launch CNH PvP settlement service
Plan will involve settling offshore renminbi in Hong Kong via a separate PvP session
CLS is planning to launch a payment-versus-payment (PvP) settlement service for the offshore Chinese renminbi (CNH), FX Markets understands.
The addition of the world’s fifth most-traded currency to its PvP service follows growing demand to limit foreign exchange settlement risk due to its rising role in global financial markets and cross-border transactions.
FX Markets understands the CLS solution will be focused on settling CNH in Hong Kong and is targeting technical and operational readiness of
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