CLS Posts Record Daily Notional Netted in CLSNet of USD 100 Billion in August

CLS Group, a US-based foreign exchange settlement provider, today reports a record USD100 billion in the average daily notional of net calculations in CLSNet. In H1 2022, CLSNet saw a 179% year-on-year increase in the average daily notional of net calculations.

CLSNet is a standardized, automated bilateral payment netting calculation service for approximately 120 currencies. CLSNet standardizes and centralizes post-trade processes across the global currency spectrum and in doing so reduces risk, enhances efficiency and improves liquidity for a growing network of FX market participants.

Using CLSNet also helps FX market participants adhere to the FX Global Code – the industry's global principles of good practice for the FX market.

An increasing number of global and regional banks are joining the CLSNet. Earlier this year, Deutsche Bank, Mashreq and Standard Chartered joined the growing CLSNet community​ of global and regional banks, which includes seven of the top ten global banks.