CLS is the world’s leading provider of FX settlement service. Firms that chose to use CLS to settle their FX transactions can mitigate the settlement risk associated with their trades. Launched in 2002, they transformed FX with their innovative approach to multilateral netting and settlement. Their specialists have worked to reduce systemic risk ever since, while creating operational efficiencies and significant cost savings for clients. Over 70 of the world’s most important financial institutions, call themselves members and with more than 25,000 third-party clients also using CLS, they settle USD5 trillion of payment instructions on an average day.