CLSNet helped automate UBS’s netting calculation processes and reduced time consuming manual operations while effectively mitigating operational risk.
The lack of automation across FX bilateral netting processes resulted in market participants dedicating significant resources to manually agreeing netting transactions with other market participants, relying on emails and phone calls.
This manual approach is not only inefficient, it also creates operational risk, as even a few unmatched trades can prevent the processing of all transactions.