CLS announces Natixis as new Settlement Member

Source: CLS

CLS Group (CLS), the market infrastructure that enhances financial stability by providing risk mitigation services to the global FX market, today announced the addition of Natixis as a CLS Settlement Member. This increases the number of financial institutions that are CLS Settlement Members to 63.

A CLS third party participant for several years, Natixis became a CLS Shareholder in 2012 as part of its onboarding process to become a Settlement Member. Natixis went live as a Settlement Member on May 20, 2013.

As a CLS Settlement Member, Natixis is now able to realize additional benefits including liquidity, operational and IT efficiencies, as well as business growth and new revenue opportunities through increased trading capacity. Being a CLS Settlement Member also provides Natixis with the opportunity to offer CLS services to third parties and to provide nostro services.

"I am pleased that Natixis has become a Settlement Member," said David Puth, Chief Executive Officer of 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."

Since launching in 2002 with 39 Settlement Members, CLS has become fundamental to the FX market. Its Members include many of the world's leading financial institutions, in addition to an expanding community of more than 9,000 third party participants.

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