Natixis Joins CLS as Settlement Member
Continuous-linked settlement (CLS) is a risk-mitigation process in the foreign exchange (FX) market, which reduces the potential for counterparty default, also known within FX circles as Herstatt risk. The addition of Natixis brings the number of settlement members on the service to 63.
"I am pleased that Natixis has become a Settlement Member," says David Puth, CEO at CLS. "This underscores the central role that CLS plays in the global foreign exchange market, by mitigating settlement risk while enhancing liquidity and operational efficiencies. Participation in CLS continues to grow and we look forward towelcoming new members as we evolve further."
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