CLS connectivity channels
| CLS Services & Solutions | Description | SWIFT Connectivity | |
|---|---|---|---|
| CLSSettlement | Settles trades using multi-lateral 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. |
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| CLSSameday | A same-day gross payment-versus-payment (PvP) settlement service to mitigate settlement risk and optimize the use of available liquidity in the USD/CAD same-day market. | ||
| CLSNow | A new same-day gross payment-versus-payment (PvP) settlement service to mitigate settlement risk and optimize the use of available liquidity in the CAD, CHF, EUR, GBP and USD same-day market. | ||
| Cross Currency Swaps | This service is an extension of the CLSSettlement service and uses the MarkitWire trade booking platform to allow settlement members to send their Cross currency swap trades settlement flows into CLSSettlement. | MarkitSERV uses the MI Channel to connect to CLS Settlement. | |
| Credit Derivatives | CLS and The Depository Trust & Clearing Corporation (DTCC) provide an integrated global payment processing infrastructure for the over-the-counter (OTC) credit derivatives market. |
The Depository Trust & Clearing Corporation (DTCC) connect to CLS Settlement via SWIFT. |
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| CLSClearedFX |
CLSClearedFX is a new 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’ and Deutsche Bourse ‘Eurex’ connect via the MI Channel. | |
| CLSNet | CLSNet is a standardized, automated bilateral payment netting service for buy-side and sell-side institutions. Built on a distributed ledger technology (DLT) platform, CLSNet will introduce risk mitigation for trades not settling in CLSSettlement by standardizing and automating post-trade matching and netting processes. |
Any SWIFT user can use the following SWIFT channels: MI Channel, FINInform (MT300 copy), MT304. |