CLSNet Ends August with a Record $100B in Net Daily Notional

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CLSNet Ends August with a Record $100B in Net Daily Notional

<p>CLS Group, one of the leading providers of settlement services in the forex market, reported a record $100 billion in the average daily notional of net calculations in CLSNet for the month of August.</p><p>Announced on Wednesday, the record figure was supported by a "marked increase in adoption from market participants," the company highlighted. Indeed, the average daily notional of net calculations for the first six months of 2022 jumped 179 percent year-over-year.</p><p>A Major Institutional FX Network</p><p>CLSNet is a bilateral payment netting calculation service for <a href="https://www.financemagnates.com/terms/b/buy-side/" target="_blank" id="a524a993-3e41-480b-9c08-128056958173_1" class="terms__main-term">buy-side</a> and <a href="https://www.financemagnates.com/terms/s/sell-side/" target="_blank" id="3d001dd3-4a38-4ff8-8fcd-6ebb47b93bd2_1" class="terms__secondary-term">sell-side</a> institutions, supporting currencies across the global spectrum. It operates a centralized infrastructure providing a single common record of their net payment obligations, thus streamlining post-trade matching and netting processes.</p><p>Additionally, the service enables participants to adhere to the <a href="https://www.financemagnates.com/institutional-forex/fx-global-code-of-conduct-building-on-five-years-of-progress/" target="_blank">FX Global Code</a>, which is a standardized global principle of good practice for the FX market.</p><p>The participants in the network include some of the <a href="https://www.financemagnates.com/institutional-forex/finastra-integrates-clsnet-for-netting-calculations/" target="_blank">major international financial banks</a>. Earlier this year, CLSNet onboarded Deutsche Bank, Mashreq and Standard Chartered.</p><p>"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 optimize liquidity for their post-trade FX trading processes," <a href="https://www.financemagnates.com/tag/cls-group/" target="_blank">CLS </a>stated.</p><p>Apart from CLSNet, its other offerings include CLSSettlement, which mitigates settlement risks; CLSTradeMonitor, which is aimed to make trade execution efficient; and CLSOptimization, which provides clients access to solutions for managing FX portfolios efficiently.</p><p>"We build the community, you join the world's leading banks in FX," the company added.</p>

This article was written by Arnab Shome at www.financemagnates.com.

Source: CLSNet Ends August with a Record $100B in Net Daily Notional