CLS to Improve FX Post-Trade Efficiency with Blockchain Technology

CLS Group, a provider of risk mitigation and operational services for the FX market, has announced a broader portfolio of products and services which include a Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-based or distributed ledger technology (DLT) solution.

Learn how to buy Bitcoin and Ethereum safely with our simple guide!

CLSTradeMonitor is a post-trade monitoring and reporting tool that provides a real-time consolidated view of the match and confirmation status for all trade instructions submitted to CLSSettlement and CLSNet – a bilateral payment netting solution intended to support trades not settling in CLSSettlement built on a DLT platform. Both services will be available in the first half of 2018, subject to the receipt of any necessary approvals.

David Puth, CEO of CLS, said: “Today marks the beginning of the next phase of CLS’s evolution. Since we launched in 2002, CLS is proud to have successfully supported the market by settling trillions of foreign exchange trades on behalf of thousands of institutions.

However, we cannot stand still; regulatory reform, new technology and structural change mean market dynamics and client requirements are continuously changing. Given CLS’s role at the center of the FX market, its global connectivity to banks and other non-bank institutions, as well as close working relationships with central banks and regulators, we believe we have a unique opportunity to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term our experience and market insight to create standardized solutions to address common market challenges.”

Follow the Finance Magnates Blockchain Podcast:

Alan Marquard, Chief Strategy and Development Officer at CLS, said: “CLS is committed to using its trusted position in the FX market to deliver greater efficiencies and reduce risk. These new products will make settlement, processing and data analysis faster, easier, safer and more cost-effective.

By harnessing cutting-edge, market appropriate technologies, CLS will look to solve a new generation of market challenges. Our new strategic focus puts us firmly on the path to achieving this goal over the next few years.”