FIVE YEARS AGO IN FXW
FIVE YEARS AGO IN FXW
New Basle Committee Examines Options For Reducing FX Settlement
The head of the payment, settlement and clearing systems division at the Bank of England, Peter Allsopp, is spearheading a new effort by the Basle-based G-10 central bank governors group to study ways of curbing settlement risk in the foreign exchange market. Allsopp is heading the steering group of the G-10 Committee on Payment and Settlement Systems run by New York Federal Reserve chief William McDonough, Bank of England officials
More on Settlement Risk
Tackling rising FX settlement risk with DLT
Distributed ledger technology provides a remarkable opportunity to mitigate the rising settlement risk within the FX industry, explains Alex Knight, head of Europe, the Middle East and Africa at Baton Systems.
Goldman Sachs and JP Morgan go live with CLSNow
Unlike CLS’s main settlement tool, CLSNow lets banks settle FX positions on the same day
State Street provides CLSSettlement to Japanese pension fund
Unnamed Japan-based pension fund is part of pilot to mitigate pension funds’ FX trading risks
Nomura’s asset manager extends CLSSettlement to Japanese funds
First local asset manager to provide access in sign of success for buy-side adoption push
CLS: mitigating settlement risk is crucial as volatility rises in 2019
Geopolitical factors expected to drive markets this year
CLS settlement will migrate to new platform in 2020
The infrastructure provider will launch the new venue based on its own technology next year, with service migration planned for May 2020
CLS onboards Japanese funds
Japan-domiciled funds gain access to settlement through CLS as third-party participants for first time
Banco Monex becomes first Mexican member of CLS
The bank is the only CLS settlement member in one of Latin America’s largest FX trading centres
