CLS, a market infrastructure provider delivering settlement, processing and data solutions, reports that Actinver, BNP Paribas, Citibank and JP Morgan are live on CLSNet, a standardized, automated bilateral payment netting calculation service for over 120 currencies operating on a distributed ledger technology (DLT) platform.

There are now nine market participants live on CLSNet, including Bank of America, Bank of China (Hong Kong), Goldman Sachs, Intesa Sanpaolo and Morgan Stanley, with several other market participants due to join over the coming year.

CLSNet standardizes and increases the levels of payment netting in the FX market, enabling improvements to intraday liquidity, greater operational efficiency and increased risk mitigation for non-CLS-settled currencies, many of which are in emerging markets that are growing faster than those in current CLS jurisdictions.

In addition to existing CLS settlement members, CLSNet can be used directly by non-CLS banks and the buy-side, enabling a wider group of market participants to benefit from the reduction in operational costs and risk that the service delivers.

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CLS, a market infrastructure provider delivering settlement, processing and data solutions, reports that Actinver, BNP Paribas, Citibank and JP Morgan are live on CLSNet, a standardized, automated bilateral payment netting calculation service for over 120 currencies operating on a distributed ledger technology (DLT) platform.

There are now nine market participants live on CLSNet, including Bank of America, Bank of China (Hong Kong), Goldman Sachs, Intesa Sanpaolo and Morgan Stanley, with several other market participants due to join over the coming year.

CLSNet standardizes and increases the levels of payment netting in the FX market, enabling improvements to intraday liquidity, greater operational efficiency and increased risk mitigation for non-CLS-settled currencies, many of which are in emerging markets that are growing faster than those in current CLS jurisdictions.

In addition to existing CLS settlement members, CLSNet can be used directly by non-CLS banks and the buy-side, enabling a wider group of market participants to benefit from the reduction in operational costs and risk that the service delivers.