FXall has joined CLS Bank as a registered vendor. The partnership should provide FXall clients with an integrated system for processing CLS settled trades that can increase post trade efficiencies and mitigate settlement risk across FXall's client base.

Settlement Center, FXall's automated transaction processing and settlement solution, automatically recognises CLS-eligible trades and sends member notifications using standardised Swift MT300 and MT304 messaging formats to CLS Member and CLS 3^rd Party banks for final CLS processing.

Settlement Center now supports CLS trade matching for clients and counterparties so that CLS mismatches can be identified and communicated to clients, reducing settlement error. Settlement Center also facilitates CLS trade amendment processing, thereby enforcing CLS eligibility rules.

CLS was created by over 60 of the world's leading financial institutions by linking multiple real-time gross settlement systems through CLS Bank. CLS eliminates FX settlement risk through simultaneous and irrevocable settlement of both legs of a transaction, regardless of geographies or time zones.