Marc will discuss the rise of settlement risk in the FX market and what action  the industry can take collectively to address this growing risk. In his keynote he will:

• Provide a brief history of FX settlement risk and CLS’s origin
• Explain the new evidence suggesting FX settlement risk is increasing
• Outline known obstacles to CLS currency expansion
• Highlight CLS’s efforts to promote PvP adoption and its thinking on a solution for non-CLS currencies.