Settlement risk
CLS sets new record for daily settlement volumes
NEW YORK - CLS settled a record 1,758,902 sides today (June 1) surpassing the previous record of 1,758,902 sides set on February 16.
Why aren’t the Greeks using CLS?
A lesson learned from the Lehman Brothers bankruptcy was that, at times of stress, CLS plays a central role in ensuring forex traders are protected. It seems surprising then that only one Greek bank is using the settlement system.
Bank of Canada salutes CLS
TORONTO - Bank of Canada became the latest monetary authority to publicly champion the success of industry utility CLS in ensuring the smooth operation of the foreign exchange market during the financial crisis.
An imbalanced proposition
At the time of going to press, decisions on the future of the foreign exchange markets was still hanging in the balance, as regulators in the US debated the inclusion of forex swaps and forwards into the over-the-counter derivatives reforms.
India adds its angle to clearing debate
CCIL allows economics to drive change
Economics should drive change
The decision to include foreign exchange swaps and forwards in the US over-the-counter derivatives reform bills run counter to research conducted by central bank-backed foreign exchange committees.
Paradigm shift in forex means new risks
The changing paradigm of the foreign exchange markets might create a new set of pressure points for the industry that need to be addressed, warned delegates at the FX Week Asia congress in Singapore last Tuesday.