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
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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.

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