- 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
