CLS Group Welcomes Wells Fargo as Newest Settlement Member

CLS Group (CLS), a provider of Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term and operational services, has announced its newest settlement member to its global constituency, adding leading investment venue, Wells Fargo, according to a CLS report.

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The addition of Wells Fargo builds upon a robust list that is already 64 strong, including a panel of membership banks in the foreign exchange market. Collectively, this group is responsible for the settlement of upwards of $5.0 trillion a day, making the overall membership one of the largest in the world. Per the addition, Wells Fargo will gain access to the myriad benefits of CLS membership, which include access to large swaths of Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, IT efficiency, and currency trading support.

According to David Puth, Chief Executive Officer (CEO) of CLS, in a recent statement on the membership: “The addition of Wells Fargo is a great endorsement of the service CLS continues to provide to the foreign exchange market and global economy.

Participation in our service continues to grow and our settlement members, such as Wells Fargo, play a critical role in ensuring market participants have access to the highest standard of risk mitigation to support their trading operations and enhancing the safety and security of the global FX market.''

''CLS plays a critical role in the financial markets and we are delighted to have joined as a settlement member. Mitigation of settlement risk remains a top priority for Wells Fargo and our participation in CLS will allow us to achieve this goal,” said Sara Wardell-Smith, Global Head of the FX & International Treasury Management Division, EVP, at Wells Fargo.

CLS Group recently made headlines after it reported its May volumes that were pointed lower – CLS’s submitted average daily input volume, which combined its settlement and aggregation services, registered just 969,061 during May 2016, down -9.7% MoM amidst an uneven year of volumes.