Overview

CLS (Continuous Linked Settlement) Bank provides a global settlement system that reduces bank and systemic risk. Achieving significant reduction in settlement exposures requires a critical mass of settlement value. CLS members need to settle trades between themselves but may also act upon trades with non-CLS members (third parties).

Many CLS members currently offer services to third parties whereby they input and settle cross-currency trades on behalf of their third party customer(s) with CLS Bank. Likewise, third parties communicate their foreign exchange transactions to their CLS settlement members.

SWIFT provides a global comprehensive solution to support the communication flow between CLS members and third parties (most of which already use SWIFT), so that they can provide cost-effective services to their customers.

For further details please contact your SWIFT Regional Account Manager or your nearest SWIFT office.