New paper from the BIS, IMF and World Bank assesses the benefits and challenges associated with using multilateral platforms for cross-border payments.
January 20, 2023MUFG says CLSNet will enable it to improve operational efficiency and reduce risk for currencies that are not currently eligible for CLSSettlement.
December 2, 2022CPMI received "numerous promising proposals" for new solutions that may be capable of processing FX transactions that currently settle on a non-PvP basis.
August 2, 2022Banks should aim to have all their FX trades become eligible for PvP settlement, while also encouraging counterparties to do the same.
January 19, 2022CLS operates the largest multi-currency cash settlement service in the world, and addresses the most significant risk in the FX market – settlement risk.
December 10, 2021Twelve global banks are participating in a pilot to evaluate potential PvP solutions for currencies that are not currently eligible for CLSSettlement.
September 15, 2021Jimmy Ho and Sammie Chan discuss Metrobank’s adoption of PvP settlement and how it reflects a broader trend in the Philippine banking industry.
September 14, 2021The changes place greater importance on the use of PvP settlement where available, and provide guidance on risk reduction where PvP settlement is not in use.
July 27, 2021Among the key issues in the FX market has been settlement risk, given the increasing number of trades being settled without PvP protection, says RBA deputy governor Guy Debelle.
October 23, 2020Without immediate action, FX settlement risk will continue to accumulate and introduce vulnerabilities into the global financial system, says Margaret Law at CLS.
October 16, 2020