BankingBusiness

FAB: Signs testing and trialling agreement with CLS for CLSNet

  • FAB signed a testing and trialing agreement with CLS for its confirmation, matching and netting service ‘CLSNet’
  • FAB marked another regional first through this agreement able to automate and standardise the netting calculation
  • Netting offsets receivables against payments due and therefore reduces net payments
  • In the FX Global Code, netting is recommended to manage counterparty risk and reduce settlement risk
  • This agreement with CLS highlights FAB’s importance as a leader in the global FX market
  • Being the first mover in the Middle East showcases FAB’s commitment to embracing innovation, particularly as a specialist in emerging markets
Previous article
Color: Raises $167M in Series D Financing
Next article
Conotoxia: Launched MT4 platform
Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

You May Also Like

FinTech

FCA Announces Second Cohort for AI Live Testing Initiative

New phase aims to improve integration of AI in financial services.Highlights: FCA launches second cohort for AI live...
FinTech

Cab Payments Strengthens Case Against Helios Blocking Takeover Bid

Cab Payments contests Helios Investment's actions regarding merger talks.Highlights: Cab Payments accuses Helios of blocking a crucial takeover...
FinTech

Ex-Stripe Team Secures $75 Million to Boost Operations Platform

Funding aims to enhance operations for businesses in various sectors.Highlights: Ex-Stripe founders raise $75 million for operations platform.The...
FinTech

Government Advances Reforms to Secure UK Payments Sector

New initiatives aim to enhance the resilience and efficiency of the payments landscape.Highlights: UK government proposes new reforms...