Settlement
CLS volumes dip in October
Volumes were down 1.4% from September and $135 billion off the highs reached in June
CLS upgrades infrastructure channel for settlement members
A new member gateway based on Swift ISO standards is expected to save up to $500,000 per settlement member
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
April CLS volumes point to higher BIS figures
Bumper month will be basis for BIS triennial survey; ticket sizes likely grew as instruction number fell but value rose
Marquard takes on strategy role at CLS
He is still general counsel and representative for legal matters to CLS's executive management committee and CLS Group board
Samsung Securities gains third-party access to CLS
The securities company is the first non-bank financial institution to join CLS in South Korea
Malaysia and Thailand ink 'milestone' settlement deal
Asean economies aim to settle more trade and investment in local currencies
Hungary targets forint entry into CLS
Hungary's central bank has committed itself to bringing the currency into CLS, FX Week understands, and sources believe it could be added as early as next year
Perspectives on 2014: David Puth, CLS
Working with dealers and central counterparties on settlement of centrally cleared FX options is a ‘high priority strategic objective’ for 2014, says CLS chief executive David Puth
FX clearing a priority for 2014, vows CLS chief
Working with banks and CCPs to facilitate central clearing of OTC FX options is 'high priority strategic initiative' for CLS this year, says chief executive David Puth
CLS raises £160 million capital from shareholders
Hefty capital raise completed last week to enable CLS to meet demanding new capital requirements and support future growth
European regulatory chief to leave CLS
Gabor Butor, head of European regulatory affairs, will leave CLS at the end of this week after two years
CLS same-day settlement 'positive' for CAD market, says FX committee chair
Canadian FX committee chair Donna Howard welcomes launch of same-day settlement through CLS for USD/CAD, but acknowledges associated challenges
CLS launches settlement for same-day USD/CAD trades
Settlement risk mitigation firm is due to launch a new settlement session this week for the trades settled on a same-day basis
CLS to open Hong Kong office in bid for Asia expansion
Asia operation will open on August 20 under the leadership of Rachael Hoey, who relocates from London to become head of CLS Asia
FX Week USA: CLS expansion will be key to EM currency growth
EBS is 'holding its breath' for the ruble to be added to CLS, but regulatory affairs head cautions the addition of new currencies will take time
CLS hires RBS risk veteran
Peter Lightfoot has joined the FX settlement risk mitigation utility after more than 32 years at Royal Bank of Scotland
CLS membership will allow more ‘flexibility’, says Natixis
Natixis became a full settlement member in May, as CLS continues its mission to expand the use of the central settlement risk mitigation utility
Japan's Mizuho joins CLS Aggregation Services
CLS and Traiana-backed aggregation engine extends global reach with addition of Japanese bank
Forum supports board of approval to vet Russian nostro banks
Participants at the International Ruble Settlement Forum agree initiative needed to promote use of real-time settlement in Russia
Russian banks weigh up benefits of CLS membership
Local liquidity providers are pivotal to CLS success in the ruble, but Russian banks are not yet convinced of the benefits of membership
CLS faces uphill battle to meet currency expansion targets
FX settlement system aims to add another 17 currencies within 10 years, but some caution that CLS membership doesn't make economic sense for certain emerging market currencies
CLS squares up to member onboarding challenges
Having added Swedbank and Lloyds as settlement members in the past two years, CLS has committed itself to further expanding its membership as well as its currencies
Review of 2012: October - December
FX Week looks back on the biggest stories of 2012, concluding with the fourth quarter. To read the original stories, click on the links in black