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CLS Redesigns CLSClearedFX Service to Enhance Settlement Efficiency
CLS Redesigns CLSClearedFX Service to Enhance Settlement Efficiency
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BTCCSquare news:
CLS, a leading financial market infrastructure provider, has unveiled a redesign of its CLSClearedFX service, with LCH ForexClear becoming the first central counterparty to adopt the upgraded platform. The service facilitates payment-versus-payment settlement for cleared FX and derivative trades, mitigating settlement risk for CCPs and their members.
The revamped system integrates with CLSSettlement, allowing CCPs to submit bilateral settlement instructions on behalf of clearing members. This consolidation delivers operational efficiencies, liquidity benefits, and robust failure management processes. LCH ForexClear's migration to the new service eliminates redundant workflows and reduces settlement costs for its members.
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