Analysis: the trend toward best practice in institutional FX settlement

Marisa Kurk, Mesirow Financial Currency Management

Marisa Kurk, senior managing director and COO of Mesirow Financial Currency Management group, explores best practices in foreign exchange (FX) settlement.

Payments and blockchain: Pilotville

Blockchain and payments – Piltoville

The payments industry went just a bit blockchain bonkers at this year’s Sibos. Distributed ledger technology (DLT) was a hot topic throughout the week. This was quite astounding given there are very few examples of working blockchain or DLT use cases; most of the initiatives under way are proofs of concept.

CLS to develop payment netting service


CLS Group has started building a payment netting service, using existing message protocols and distributed ledger technology (DLT), which will be open to all FX market participants – not just CLS members –and will also enable CLS members to net some FX trades that are currently settled outside the CLS settlement service.

Markit and CLS to provide cross currency swaps settlement

Financial information provider Markit and foreign exchange settlement service CLS have launched a new service for the cross currency swaps market.

CLS and TriOptima debut FX compression service

JP Morgan Markets: joined-up thinking

FX services provider CLS Group and OTC derivatives specialist TriOptima are collaborating to launch an FX forward compression service, which they say will help customers to meet the regulatory obligation to use compression for non-centrally cleared OTC derivatives if possible.

Cross border co-operation is key to the safe evolution of financial markets

David Puth

Global financial markets are experiencing a paradigm shift as governments, regulators and participants recalibrate the processes and structures underpinning global finance. The challenge is to repair and remedy where needed, with dialogue between central banks, regulators and participants, but also to avoid creating fragmented markets or worse, unintentionally reintroducing risk.

CLS: Supreme Court ruling removes threat to financial infrastructure


In a landmark ruling, the US Supreme Court has ruled that the intermediated settlement of financial exchanges is an abstract idea and therefore not patent-eligible. David Puth, chief executive of CLS, which won the case in question. discusses the implications of the ruling.

Ex-HSBC CIO takes chairman role at CLS as Hartsink steps down


Ken Harvey, the erstwhile HSBC group chief technology and services officer and group chief information officer, is to become chairman of CLS Group Holdings and CLS Bank International, succeeding Gerard Hartsink who will retire in October.

CLS hires Kos to head regulatory affairs

Dino Kos

Foreign exchange utility CLS Group has appointed Dino Kos as head of global regulatory affairs. In his new role, he will report to David Puth, chief executive at CLS from his base in New York.