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FAB: Becomes the first bank in the Middle East to issue green ‘Repo’ financing
BankingBusiness
Less than 1 min.Read

FAB: Signs testing and trialling agreement with CLS for CLSNet

Laura M
By Laura M
  • 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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