Lisa Danino-Lewis

CLS adds three clients to its CCS service

September 2023 in News Headlines

Three settlement members, including Barclays Bank and Danske Bank, have enrolled in CLS’s cross currency swaps (CCS) settlement service.

They are joining a growing community of settlement members on the service, including some of the world’s largest banks. The service has witnessed continued growth in recent months, with a 38% year-on-year increase in the values of CCS submitted to CLSSettlement (H1 2023).The CCS service is an extension of CLS’s unique payment-versus-payment (PvP) settlement service, CLSSettlement. It allows settlement members to send their CCS into CLSSettlement for settlement. “We are delighted to welcome the latest additions to our CCS service,” said Lisa Danino-Lewis, Chief Growth Officer, CLS. “Their decision to join our platform is a testament to the risk mitigation and liquidity and operational efficiencies provided by the service, and it underscores our clients’ continued commitment to further mitigate settlement risk.”