CLS’s new post-trade monitoring and reporting tool, CLSTradeMonitor, has gone live with the first asset managers, including Mesirow Financial and Mountain Pacific Advisors.
CLSTradeMonitor delivers a real-time consolidated view of the match status details for all trades submitted to CLS. It aims to help asset managers efficiently manage their executed FX trades across all of their custodian banks. Trade status details are available across CLSSettlement providers and counterparties.
CLSTradeMonitor was built in combination with CLSNet, a bilateral payment netting platform built on a distributed ledger technology (DLT) platform.
Trade status details for CLSNet will also be made available to clients through CLSTradeMonitor. The combined solution set enables participating institutions to drive process efficiencies, such as enabling real-time awareness of currency and counterparty exposures, and reducing operational and credit risk.
Alan Marquard, chief strategy and development officer at CLS, says: “We are committed to using our trusted position at the centre of the FX market, as well as our technology expertise, to create standardised solutions which solve common problems faced by FX market participants. CLSTradeMonitor will assist the broader market, including banks, corporates and asset managers as they leverage CLSSettlement and CLSNet.”
Joseph Hoffman, CEO of Mesirow Financial Currency Management, comments: “Mesirow Financial continuously looks for ways to enhance its operational efficiency and minimise risks for our clients, and CLSTradeMonitor meets both of these objectives. CLSTradeMonitor offers a comprehensive view of the status of our currency trades, helping us to more effectively manage settlement risk. Implementing CLSTradeMonitor further strengthens Mesirow Financial’s commitment to reduce risks and costs for our clients.”