Overview
In the increasingly globalized financial markets, treasury departments within banks often have to source large amounts of currency on short notice. With traditional sources of intraday liquidity, such as the contraction of the repo market, there is a growing need for a safe, intraday currency settlement service.
CLSNow meets this need with bilateral same-day payment-versus-payment gross settlement initially in CAD, CHF, EUR, GBP and USD. The service enables counterparties to optimize the use of available liquidity in the same-day market while mitigating settlement risk.
