Jonathan Butterfield EVP, Marketing and Communication at CLS Bank International
Jonathan Butterfield EVP, Marketing and Communication at CLS Bank International

CLS for Investment Managers

Jonathan Butterfield describes how CLS has introduced a unique solution that makes CLS settlement benefits available to the fund management community.

First Published: e-Forex Magazine 19 / Features / July, 2005

In over two years of providing its cross-currency settlement service, CLS Bank International (CLS) has demonstrated to the industry that it can deliver real added value benefits that more than match the promises in the run up to launch. Currently nearly five hundred banks, brokers, funds and corporates are using the service, and typically in excess of 190,000 instructions a day are being settled with a gross value in the region of $2 trillion. The peak volume day experienced so far saw over 380,000 instructions settled and the peak value day settled nearly $US 3.9 trillion in value. This makes CLS Bank one of the largest settlement mechanisms in the world. The number of currencies also continues to grow. Last December, CLS Bank received regulatory approval to add, and implemented, a further four currencies as CLS Bank Settlement Eligible - the Hong Kong dollar, the Korean won, the New Zealand dollar and the South African rand.The background to the continuing volume growth is the value that CLS Bank brings...continued

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