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

Revolut Strengthens Presence with New Paris Headquarters

The fintech company aims to enhance its operations in Western Europe.Highlights: Revolut opens a new headquarters in Paris...
FinTech

Australian Payments Plus Offloads Beem Consumer Payments App

The company divests its consumer app to focus on core business areas.Highlights: Australian Payments Plus sells its Beem...
FinTech

Mimir Acquires PayEx Platform to Strengthen Fintech Offerings

This acquisition signals a new chapter for Mimir in the fintech space.Highlights: Mimir acquires PayEx platform from Swedbank.The...
FinTech

Visa Unveils Tool to Strengthen Agentic Commerce for Firms

New offering aims to simplify and enhance digital commerce capabilities.Highlights: Visa launches a new tool for agentic commerce.The...