3 December 2019 – London/New York/Mexico City: CLS, a financial market infrastructure delivering settlement, processing and data solutions, today announced that Actinver is the first Latin American participant to join CLSNet, a standardized, automated bilateral payment netting calculation service for over 120 currencies operating on a distributed ledger technology platform.

CLSNet went live in 2018 with Goldman Sachs and Morgan Stanley. Four further clients – Bank of China (Hong Kong), Bank of America, BNP Paribas and Intesa Sanpaolo – have since joined the service. The latest addition of Actinver – a leading Mexican investment advisory and holding company – signals continued growth for CLS in Latin America.

CLSNet is available for buy-side and sell-side institutions. It introduces standardized payment netting calculations for FX trades not settling in CLSSettlement and delivers automation for the entire market. By standardizing and automating the calculation of payment netting, CLSNet can reduce costs for market participants and increase liquidity in FX markets. The service also supports compliance with certain principles of the FX Global Code of Conduct.

Alan Marquard, Chief Strategy and Development Officer, CLS commented: “We are delighted to welcome Actinver to CLSNet. By becoming a participant in this service, Actinver will now be able to access a high level of standardization that enhances operational efficiencies, reduces risk and lowers costs for market participants. We continue to invest in the growth and resilience of CLSNet and have a roadmap of regular enhancements that will expand the value proposition to clients.”

Héctor Sánchez, Head of Operations, Actinver added: “CLSNet will enable us to address our wider post-trade processing needs and increase our operational efficiency by optimizing liquidity, enabling real-time awareness of currency and counterparty exposures, and reducing risk.”