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CLSNet is a standardized, automated bilateral payment netting calculation service for over 120 currencies1 for banks, funds, corporates and non-bank financial institutions. As a centralized platform, it provides participants with a notification of their net payment obligations through a single common record, which streamlines post-trade matching and netting processes. It also provides participants with confirmation of economic terms of the underlying FX transaction, which may constitute legal confirmation under the laws of the applicable jurisdiction(s).
1CLSNet’s coverage includes currencies that are not issued by countries on a sanctioned list that would prevent CLS from conducting business with those countries and their issued currencies.