Settlement
Exemption clarity allows market participants to prepare for new regime
Banks, market infrastructures and industry associations prepare to move forward with regulatory preparation, now that swaps and forwards are set to be exempt
CLS appoints Naresh Nagia as CRO in New York
Nagia started May 4 and will replace Carol Simon after a transition period
CLS welcomes new Basel working group on FX settlement risk
Work between central banks and supervisors that was halted at the onset of the financial crisis is now set to continue
CLS considers membership category for CCPs
Foreign exchange central settlement provider CLS Bank is considering the creation of a new membership category for central counterparties (CCPs) developing clearing services for FX derivatives, the firm has told FX Week.
Bayer warns EC: Don’t force us to slash jobs in EU
Christian Held, head of corporate treasury at pharmaceutical giant Bayer, threatened to move jobs abroad unless the European Commission “lets common sense prevail” over FX derivatives regulation.
CLS volumes and values up year on year in 2010
Average daily volumes settled over CLS in 2010 were up 33% on 2009, with 792,900 instructions settled. Average daily values were also up, by 22%, with $4.1 trillion settled.
Triumph in the midst of adversity
The past 12 months have been perhaps some of the most challenging for the foreign exchange market as it pushes to ensure it remains independently governed as an industry with its specific risks, while continuing on the growth trajectory aided through new…
Santander live as settlement member
Banco Santander went live as a settlement member of CLS Bank on November 15, bringing the total number of banking and financial institutions comprising CLS's members up to 61.
UBS regains top spot for CLS
UBS swings back into the lead as the top provider of CLS third-party services, as demand for access to the industry utility continues to rise.
CLS to double input capacity by year-end
CLS plans to double the capacity of its trade notification gateway by year-end, which will prevent a repeat of the backlog that emerged from the May 6 spike in trade, officials tell FX Week.
The impact of regulation on the global OTC market
Three web seminars – in Hong Kong, London and New York – exploring key changes in international OTC derivatives regulation from a regional perspective
September year-on-year volume increase at CLS
NEW YORK – CLS experienced a year-on-year rise in volumes settled over its system in September.
HSBC completes first US cross-border renminbi trade settlement
NEW YORK - HSBC USA completed its first US cross-border renminbi settlement, following the extension of China’s renminbi trade-settlement pilot programme in June.
FX - After the trade is made: the future of the CLS relationship
How will CLS fare as new regulations take hold? Olaf Ransome, director at forex operations consultancy, 3C Advisory in Zurich examines the future for the FX infrastructure
In Brief, September 13, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
CLS hires new head of strategic initiatives
NEW YORK – CLS has hired Richard Kerschner as New York-based head of strategic initiatives, a newly created role, it announces today (August 16).
BAML live on CLS/Traiana by October
NEW YORK - Bank of America Merrill Lynch is due to go live on the CLS/Traiana joint venture trade-aggregation service by October, making it the last of the eight founding banks to begin processing through the service.
CLS targets buy side with Omgeo
NEW YORK - CLS and Omgeo have teamed up to improve post-trade reporting by the buy-side community with the addition of CLS FX instructions to Omgeo’s standard settlement instruction (SSI) database.