CLS connectivity channels
|CLS solutions||Description||SWIFT Connectivity|
|CLSSettlement||Settles trades using multilateral netting, and providing a flexible payment-versus-payment (PvP) system.||
The 70 CLS settlement members can use the following SWIFT channels: a MI Channel that utilizes ISO 20022-based XML messages; or a FIN MT Channel with FIN messages. There is also a browser-based Graphical User Interface over SWIFTNet Browse.
|CLSNow||CLSNow is a gross PvP settlement service to mitigate FX settlement risk associated with the out-legs of CLSSettlement in/out swaps and other same-day FX transactions.
The service provides bilateral same-day payment-versus-payment gross settlement in CAD, CHF, EUR, GBP and USD.
|Cross Currency Swaps||This service is an extension of CLSSettlement for instructions relating to bilateral net payment obligations for the over -the-counter (OTC) credit derivatives market. Created in partnership with The Depository Trust & Clearing Corporation (DTCC), the service links DTCC’s trade information warehouse with CLSSettlement.||MarkitSERV uses the MI Channel to connect to CLS Settlement.|
|Credit Derivatives||This service is an extension of CLSSettlement for instructions relating to bilateral net payment obligations for the over -the-counter (OTC) credit derivatives market. Created in partnership with The Depository Trust & Clearing Corporation (DTCC), the service links DTCC’s trade information warehouse with CLSSettlement.||
DTCC connect to CLSSettlement via SWIFT.
CLSClearedFX is a PvP settlement service specifically designed for cleared FX products.
The service enables central counterparties (CCPs) and their clearing members to safely and effectively mitigate settlement risk when settling cleared FX products.
|LCH ‘ForexCLEAR’ connect via the MI Channel.|
|CLSNet||CLSNet is a standardized, automated bilateral payment netting calculation service across 120 currencies for buy-side and sell-side institutions. As a centralized platform, it provides users with a single common record of their net payment obligations to streamline post-trade matching and netting processes.||
CLSNet participants may use one of the following SWIFT channels:
MI channel to exchange ISO 20022 XML messages; or a FIN channel to exchange MT messages. A browser-based Web User Interface is available over SWIFT WebAccess channel.