CLSNet Breaks $100 Billion Threshold
Posted by Colin Lambert. Last updated: September 8, 2022
CLS says August saw its CLSNet service break the $100 billion notional per day threshold. The utility says the record is supported by a marked increase in adoption from market participants and follows the 179% year-on-year increase in the average daily notional of net calculations in H1 2022.
“The increasing number of global and regional banks joining the CLSNet network demonstrates its appeal to market participants exploring ways to mitigate settlement risk, reduce operational costs and optimise liquidity for their post-trade FX trading processes,” the firm says, citing the network effect of increasing numbers of participants.