CLS to Improve FX Post-Trade Efficiency with Blockchain Technology

“By harnessing cutting-edge, market appropriate technologies, CLS will look to solve a new generation of market challenges."

CLS Group, a provider of risk mitigation and operational services for the FX market, has announced a broader portfolio of products and services which include a blockchain-based or distributed ledger technology (DLT) solution.

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CLSTradeMonitor is a post-trade monitoring and reporting tool that provides a real-time consolidated view of the match and confirmation status for all trade instructions submitted to CLSSettlement and CLSNet – a bilateral payment netting solution intended to support trades not settling in CLSSettlement built on a DLT platform. Both services will be available in the first half of 2018, subject to the receipt of any necessary approvals.

David Puth

David Puth, CEO of CLS, said: “Today marks the beginning of the next phase of CLS’s evolution. Since we launched in 2002, CLS is proud to have successfully supported the market by settling trillions of foreign exchange trades on behalf of thousands of institutions.

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However, we cannot stand still; regulatory reform, new technology and structural change mean market dynamics and client requirements are continuously changing. Given CLS’s role at the center of the FX market, its global connectivity to banks and other non-bank institutions, as well as close working relationships with central banks and regulators, we believe we have a unique opportunity to leverage our experience and market insight to create standardized solutions to address common market challenges.”

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Alan Marquard, Chief Strategy and Development Officer at CLS, said: “CLS is committed to using its trusted position in the FX market to deliver greater efficiencies and reduce risk. These new products will make settlement, processing and data analysis faster, easier, safer and more cost-effective.

By harnessing cutting-edge, market appropriate technologies, CLS will look to solve a new generation of market challenges. Our new strategic focus puts us firmly on the path to achieving this goal over the next few years.”

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