CLS
ECN volumes slide in becalmed FX markets
Subdued volatility appears to be weighing on trading activity
State Street provides CLSSettlement to Japanese pension fund
Unnamed Japan-based pension fund is part of pilot to mitigate pension funds’ FX trading risks
Nomura’s asset manager extends CLSSettlement to Japanese funds
First local asset manager to provide access in sign of success for buy-side adoption push
Yen volumes of 29 times normal on January 2 open – CLS figures
Soaring volumes coincide with higher volatility in yen crosses in early hours of Asian trading session
CLS: mitigating settlement risk is crucial as volatility rises in 2019
Geopolitical factors expected to drive markets this year
Goldman and Morgan Stanley go live with DLT-based CLSNet
Distributed ledger netting service will cover 120 currencies not eligible for CLS settlement
Law joins CLS in Hong Kong
Margaret Law joins from Northern Trust and reports to Joe Ziccarelli
David Puth steps down as chief executive of CLS
CLS board chairman Kenneth Harvey will assume the post until a replacement is found
CLS settlement will migrate to new platform in 2020
The infrastructure provider will launch the new venue based on its own technology next year, with service migration planned for May 2020
Barnard becomes CLS chief auditor
He joins the settlement firm after a long career in auditing
CLS to create DLT cross-asset app platform
The firm ventures beyond FX to cater for the financial sector as a whole
LCH launches FX options clearing
The first clearing service for deliverable FX is available initially for eight currency pairs
CLS rolls out monitoring tool for asset managers
Market participants gain real-time view of the trades they submit to CLS
Four join CLS board
Bonamy, Brady, Lawrence and Stolte become directors
Banco Monex becomes first Mexican member of CLS
The bank is the only CLS settlement member in one of Latin America’s largest FX trading centres
CLS profits down in 2017 as firm invests
Settled volumes continue to grow year-on-year and underlying profits are in line with expectations, Puth says
FX veterans launch Global Code consultancy
Nick Downes and Julian Gladwin form Axiom Global Advisors to independently assess firms’ preparedness for adherence
CLS volumes dip in March, but it’s a record Q1
The settlement utility records average daily volumes of $1.87 trillion for Q1 2018
More than 100 participants commit to FX Global Code
Global Foreign Exchange Committee plans to launch Global Index of Registers before June meeting
Mitsui & Co begins settling trades through CLS
It is the first Japanese corporate to join the service via third-party access
TriReduce CLS FX expands compression service to third parties
All market participants can now take advantage of the compression benefits
CLS volumes hit record high in February
Pickup in participation from buy side contributes to growth in volumes
Shell is first corporate on FX Global Code public register
Shell signs up to the code of conduct, stating its practices align with the 55 principles
CLS to launch reporting tool for members
FX settlement utility gives members extra fields in end-of-day reports to help with reporting requirements