SWIFT's CLS Third Party ServiceProviding a global FX settlement solution for non-CLS membersBenefits - A comprehensive solution
- Reduced settlement risk
- Industry messaging standards
- Based on an existing, proven infrastructure
- Low cost, low risk
- Straightforward implementation
- Widely used today
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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.
More information
For further details please contact your SWIFT Regional Account Manager or your nearest SWIFT office.
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