CLS Explores Distributed-Ledgers Potential for FX Netting Service

The service will suit FX trades settled outside the CLS settlement service and is built on Hyperledger Fabric, an open-source solution led by IBM.


David Puth, CEO of CLS, tells WatersTechnology that the netting service will be open to buy-side and sell-side institutions across the FX market, including banks, broker-dealers, asset managers, hedge funds and corporations.

CLS is aiming to launch the service in 12 to 18 months, as it will be subjected to regulatory approvals and market readiness.

It will also be introduced in two phases. The first phase will deliver a payment netting service for FX spot, forwards, non-deliverable forwards (NDF

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