CLS Group Launches PVP Settlement Service for Cleared FX Derivatives

[kreslik.news]

CLS Group, a leading provider of risk mitigation and operational services for foreign exchange dealers and institutions, today launched a PVP settlement service specifically designed for OTC cleared FX derivatives, dubbed “CLSClearedFX.”

The PVP, short for payment-versus-payment, is a settlement principle that increases the reliability of settling cleared FX products and assumes that central counterparties (CCPs) and their clearing members are meeting their responsibilities simultaneously.

CLSClearedFX will be open to multiple counterparties with London Stock Exchange’s clearing arm, LCH, is the first to go live with the service. It will apply to a range of FX products and ... (read more)