Continuous linked settlement: A global real-time settlement system for foreign exchange transactions operated by CLS Bank. CLS delivers many benefits: elimination of the client's counterparty ('Herstatt') risk; simplification of the settlement process; reduction in the amount of static data required; reduction in messaging traffic and costs; and predicatibility of settlement resulting in the elimination or near-eliminiation of post-settlement issues such as interest claims for late settlement. Traditional means of reducing the counterparty risk are netting arrangements, minimum counterparty credit ratings and concentration limits. More secure protection from this risk is provided by CLS Bank.

Counterparty
Counterparty
Netting
Counterparty
Continuous linked settlement in our glossary: terms and definitions

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Continuous linked settlement at globalcustody.net

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