GC Brokers’ Division Capitalab Partners with CLS to Enhance FX Compression Services

​Capitalab, a compression service provider under the BGC Brokers, announced that it has partnered with CLS Group, a foreign exchange market infrastructure provider, for enhancing its FX multilateral compression services.

According to the company's announcement, CLS's market data on FX forwards and swaps will help it enhance the speed and efficiency of the broker's FX portfolio.

"As highlighted by the Bank for International Settlements' most recent Quarterly Review, FX market systemic risks are growing, leading to an increasing need for multilateral optimisation and risk-reduction techniques," said Gavin Jackson, Capitalab's London-based co-founder.

"We are delighted to consolidate our presence in FX through our services agreement with CLS, which will enable previously unexplored possibilities. Combining Capitalab's multi-product technology with CLS data allows us to offer the market new FX solutions and unique optimisation of several risk metrics, including notional, margin and counterparty risks," commented David Bachelier, Capitalab's Singapore-based co-founder.

Keith Tippell, Global Head of Product at CLS said, "CLS settlement members continue to focus resources on optimization and risk mitigation. Our unique position at the center of the FX market enables us to collaborate with specialized service providers, like Capitalab, for the benefit of our common client base. We are excited to collaborate with Capitalab and, via the combination of their innovation and CLS trade data, help enable capital efficiencies and risk mitigation for market participants."