One More for CLS: Swedbank Joins as New Settlement Member

CLS Group, the market infrastructure that enhances financial stability by providing risk mitigation services to the global FX market, today announced the addition of Swedbank as a CLS Settlement Member. This increases to 62 the number of financial institutions that are CLS Settlement Members.

Originally a third party participant for several years, Swedbank became a CLS Shareholder in 2011 as part of its onboarding process to become a Settlement Member.

As a CLS Settlement Member, Swedbank is now able to realize additional benefits including Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, operational and IT efficiencies, as well as business growth and new revenue opportunities through increased trading capacity. Being a CLS Settlement Member also provides Swedbank with the opportunity to offer CLS services to third parties and the provision of Nostro services.

“I am pleased that Swedbank has become a Settlement Member,” said David Puth, Chief Executive Officer of CLS. “This underscores the central role that CLS plays in the global foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term market, by mitigating settlement risk while enhancing liquidity and operational efficiencies. Participation in CLS continues to grow and we look forward to welcoming new members and currencies as we evolve further.”

"I am happy that we have joined CLS as a Settlement Member” said Tomas Hedberg, Global Head of FX and Fixed Income at Swedbank. “Membership is in line with our ambition to further develop our FX abilities and enables us to provide a high level of security which is crucial for a major player in the finance industry.”

Since launching in 2002 with 39 Settlement Members, CLS has become fundamental to the FX market. Its Members include many of the world’s leading financial institutions, in addition to an expanding community of more than 9,000 third party participants.