With the implementation of Convergence, CLS has migrated CLSSettlement onto its Unified Services Platform (USP), thereby optimizing the underlying technology platform supporting its settlement services.
Tom Barkhuff, Chief Information Officer, CLS, commented: “At CLS we are constantly assessing and evaluating new methods to improve our services for the benefit of our members. Our Convergence program is testament to our commitment to this strategy. The priority for us is that new technological solutions meaningfully drive efficiency while also meeting extraordinarily high standards of resilience. Through a multi-year technology investment program, we have kept this focus and delivered upon our objective of implementing a best-in-class technology stack for the industry, addressing the needs of our members while maintaining the high standards expected of a systemically important FMI.”