Update on Covid-19 and CLS operations

Source: CLS Group 2020-03-17

16 March 2020

We at CLS have a fundamental duty of care to our employees, the global financial markets we serve and the communities in which we work and live. This duty is the foundation of our approach to the rapidly developing Covid-19 situation.

Commensurate with our role as a systemically important financial market infrastructure we have taken decisive, pre-emptive measures to safeguard the wellbeing of our people and ensure our critical systems continue to run seamlessly as normal. This includes a halt to all employee business travel, access restrictions to external visitors in all our offices and a comprehensive remote working program across our global locations. Fortunately, at this time, no CLS colleague is known to have Covid-19; however we are obviously monitoring this closely on a daily basis.

The extreme market volatility has led to a substantial increase in the volumes of payment instructions submitted to our settlement service. During the last week, we settled average daily volumes of 2.1 million instructions, which is up approximately 60% more than daily average in 2019. Despite this increased level of activity, we continue to settle on time and with no issues or delays. While the increase is significant, it is still well within our performance and capacity capabilities.

We will provide further updates as the situation evolves.

Marc Bayle de Jessé CEO

Update on Covid-19 and CLS operations

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