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IT Solutions and Services for Continuous Linked Settlement Services (CLSS) Member Banks

Published by: TowerGroup

Published: Jan. 1, 2000 - 14 Pages


Table of Contents


Highlights

Introduction

CLS Bank and its Members

  • CLSS Members

    Settlement Cycle at the CLS Bank

  • Prior to Value Date--Trade Submission
  • Settlement Process at the CLS Bank
  • CLS Implementation TImeline

    Impact of CLS Implementation on Member Banks

    IT Application Vendors

  • ACI Worldwide, a Transaction Systems Architects, Inc. (TSA) Company
  • Fundtech Corporation
  • Logica, Inc.
  • mpct Solutions Corporation
  • TSI International Software

    IT Spending by Settlement and User Member Banks

    Conclusion

    Abstract

    In 1996 the largest foreign exchange (FX) trading banks, calling themselves the Group of 20 (G-20), proposed the concept of continuous linked settlement (CLS) to eliminate settlement risk and potential systemic liquidity risk in the FX market and established CLS Services (CLSS) Limited. CLSS is in the process of setting up a specially chartered multicurrency bank, the CLS Bank International and creating a global CLS system. This TowerGroup Research Note discusses the implications of CLS Bank on FX and payments operations and settlement in commercial banks and its impact on liquidity and risk management. This Research Note also reviews the packaged IT solutions designed for CLSS member banks and other services marketed by IT and consulting vendors.

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