CLS meaning in Computing ?

Answer: What is Continuous Linked Settlement mean?

CLS (originally Continuous Linked Settlement) is a specialist US financial institution that provides settlement services to its members in the foreign exchange market (FX). Although the forex market is decentralised and has no central exchange or clearing facility, firms that chose to use CLS to settle their FX transactions can mitigate the settlement risk associated with their trades.

CLS does this through the operation of a delivery versus payment (DvP) settlement service which mitigates settlement risk for the FX transactions of its settlement members and their customers (third parties).

The service started operating in 2002 as an Edge Act Corporation, a limited purpose bank regulated by the US Federal Reserve.

Since it began operations in 2002, CLS has rapidly increased and by March 2017 was settling just over 50% of global FX transactions. As a result, the Financial Stability Oversight Council (FSOC) officially designated CLS a systemically important financial market utility in July 2012.

The single day record for value settled is US$11.11 trillion, set on 21 June 2017. The single day record for volume settled is 2.58 million, set on 14 November 2016.

In 2002, CLS was launched with 39 members and seven currencies. As of September 2017, CLS settles 18 currencies, has 79 shareholders, 66 settlement members and 24,000+ third-party clients.

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