CLS Claims Uptick in TradeMonitor Use
Posted by Colin Lambert. Last updated: June 21, 2021
CLS says that its post-trade monitoring and reporting tool, CLS TradeMonitor has “seen solid growth in adoption amongst asset management clients”.
Although the utility does not provide client numbers or a pace of growth, it highligthts the solution’s direct link into State Street’s TradeNexus post-trade dashboard as a factor in the uptick. With TradeNexus, asset managers have a consolidated view of their CLS Settlement information across their accounts with different custodians. This, together with TradeNexus’s suite of confirmation and settlement workflow solutions, provides clients increased transparency and efficiency in managing their post-trade processes.
“Since its integration into TradeNexus’s dashboard, we have seen a solid increase in the adoption of CLS TradeMonitor by asset managers globally,’ says Lisa Danino-Lewis, global head of sales at CLS. “The growth is testament to both the breadth of TradeNexus’ reach within this key community and the buy side’s desire to efficiently manage all their FX post-trade workflow within one platform.”
Darrel Brown, cash & FX settlements manager at Baillie Gifford & Co, adds, “Having a consolidated view in TradeNexus of our FX settlement process and the status of all CLS Settlement-eligible transactions across the underlying fund accounts of our custodian universe has proved invaluable in streamlining our post-trade processes. In addition, near real-time trade status visibility across our roster of executing brokers has enabled us to identify and resolve issues in a timely and more cost-effective manner.”
Meanwhile, Louisa Kwok, global head of TradeNexus product at State Street, says, “We continue to provide our clients with innovative tools to manage their post-trade workflows. Our collaboration with CLS provides asset managers with enhanced functionality to deliver operational efficiencies to our clients and minimize settlement risk, and these benefits have driven the increase in global adoption witnessed since the launch of this initiative.”