CLS, NEX Expand Aggregation Services to Include Non-CLS Currencies
- The newly added currencies are the CNH, TRY, RUB, and PLN versus the USD or EUR.
CLS Group (CLS) and NEX Optimization (NEX), Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term and operational services providers, announced that the CLS Aggregation Services LLC (CLSAS) will begin supporting non-CLS currencies.
The London Summit 2017 is coming, get involved!
CLSAS offers trade aggregation services for forex spot transactions, as well as addressing the challenges experienced by institutions such as banks due to high frequency trading. The collaboration between CLS and NEX Optimization’s Traiana business has matched forex trades bundled as a single trade, then processed and settled in CLS. The advantages are mitigated risk and improved capacity for the banks.
The new currencies will be the Chinese renminbi (CNH), Turkish lira (TRY), Russian rouble (RUB), and Polish zloty (PLN), which will be traded against the U.S. dollar (USD) or euro (EUR). Aggregated trades that will include any of the four non-CLS currencies will not be settled by the CLS.
“Another significant enhancement"
Mike Lawrence, Chief Administrative Officer for Foreign Exchange and Local Markets at Citibank, commented that the new additions to the service will improve the banks’ experience: “Adding non-CLS currencies to the CLS Aggregation Service is another significant enhancement for participants and extends crucial operational and risk efficiencies from the service to other highly traded currency pairs.”
In May, CLS approved HSBC Korea as a third-party services provider, which translates to fund managers being granted access to the CLS system in South Korea for the very first time. Samsung Securities had been the first non-bank financial institution (NBFI) to receive access to the CLS system, which made an important mark on the Korean foreign exchange market and CLS.
CLS Group (CLS) and NEX Optimization (NEX), Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term and operational services providers, announced that the CLS Aggregation Services LLC (CLSAS) will begin supporting non-CLS currencies.
The London Summit 2017 is coming, get involved!
CLSAS offers trade aggregation services for forex spot transactions, as well as addressing the challenges experienced by institutions such as banks due to high frequency trading. The collaboration between CLS and NEX Optimization’s Traiana business has matched forex trades bundled as a single trade, then processed and settled in CLS. The advantages are mitigated risk and improved capacity for the banks.
The new currencies will be the Chinese renminbi (CNH), Turkish lira (TRY), Russian rouble (RUB), and Polish zloty (PLN), which will be traded against the U.S. dollar (USD) or euro (EUR). Aggregated trades that will include any of the four non-CLS currencies will not be settled by the CLS.
“Another significant enhancement"
Mike Lawrence, Chief Administrative Officer for Foreign Exchange and Local Markets at Citibank, commented that the new additions to the service will improve the banks’ experience: “Adding non-CLS currencies to the CLS Aggregation Service is another significant enhancement for participants and extends crucial operational and risk efficiencies from the service to other highly traded currency pairs.”
In May, CLS approved HSBC Korea as a third-party services provider, which translates to fund managers being granted access to the CLS system in South Korea for the very first time. Samsung Securities had been the first non-bank financial institution (NBFI) to receive access to the CLS system, which made an important mark on the Korean foreign exchange market and CLS.