CLS to launch payments netting service
CLS Netting, expected to go live in late 2017, will allow institutions to net trades currently not included in the CLS settlement service
Foreign exchange utility CLS is launching a payments netting service for buy- and sell-side institutions' FX trades that are currently settled outside the infrastructure provided by the company.
It is understood that CLS Netting will go live in 12 to 18 months' time.
Participants to the initiative will be able to submit instructions for six products – FX spot, forwards, swaps, non-deliverable forwards, tomorrow/next day trades and same-day trades – in 24 currencies over existing Swift-based
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