Foreign exchange - cls support: The service provider offers full support for settlement of all foreign exchange trades eligible for Continuous Linked Settlement ("CLS") through CLS Bank. CLS delivers many benefits: elimination of the client's counterparty ("Herstatt") risk (noted below); 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. Foreign exchange trades are essentially over the counter ("OTC") trades, giving rise to counterparty exposure for the investor. If a counterparty was to become insolvent between trade date and the actual settlement of a deal, the investor is exposed to the full extent of the value of the transaction. Traditional means of reducing the risk are netting arrangements, minimum counterparty credit ratings and concentration limits. More secure protection from this risk is provided by CLS Bank.

relating to Global Custody:

Foreign exchange - online instructions
Foreign exchange - fx advisory
Foreign exchange - competitive rate reporting
Foreign exchange - automated fx
Foreign exchange swap
Foreign exchange
Foreign exchange - building functionality for cls support
Foreign exchange - online rates
Foreign exchange - contractual settlement
Foreign exchange - fx executionSettlement
Settlement
Counterparty
Settlement
Settlement
Counterparty
Counterparty
Settlement
Netting
Counterparty

Foreign exchange - cls support at Service Matrix:

http://www.globalcustody.net/perl/servicematrix.pl?servicejump=108,119,107&Country=default

Foreign exchange - cls support in our glossary: terms and definitions

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Foreign exchange - cls support at globalcustody.net

   
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