Goldman Sachs and JP Morgan go live with CLSNow
Unlike CLS’s main settlement tool, CLSNow lets banks settle FX positions on the same day
Goldman Sachs and JP Morgan are the first banks to go live on CLS’s new same-day payment-versus-payment settlement service, unveiled today (July 31) as the firm seeks to create tools to alleviate the intraday liquidity pressures faced by FX market participants.
Unlike CLS’s main settlement service, where trades are pooled, matched and netted according to a strict timetable on a minimum next-day basis, the new CLSNow offering is more flexible. It allows market participants who need to square
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