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RBA Glossary definition for CLS

CLS – Continuous Linked Settlement. A process enabling simultaneous foreign exchange settlement across the globe, eliminating the settlement risk caused by delays arising from time-zone differences.

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About RITS

20 Mar 2023
A general overview and information papers concerning RITS and its structure


9 Jun 2023
A glossary of terms used on the RBA website

Opening Remarks at the CLS FX Industry Reception

30 Jan 2017 Speech
Guy Debelle
Speech delivered by Guy Debelle, Deputy Governor, to the the CLS FX Industry Reception, Sydney

All Speeches

9 Mar 2023
Speeches by senior staff of the Reserve Bank

Other Regulatory Responsibilities

2 Oct 2009 PSB Annual Report – 2009
CLS Bank is chartered in the United States and regulated and supervised by the Federal Reserve System. ... The Oversight Protocol for CLS is published on the US Federal Reserve's website.

Safety and Stability

21 Mar 2002 PSB Annual Report – 2001
system, only their net short position or will receive from CLS Bank their net long position. ... These were the standards in place when the development of CLS Bank got under way.

Financial Market Infrastructures

28 Sep 2022 PSB Annual Report – September 2022
CLS Bank International (CLS) – CLS operates a payment-versus-payment settlement system for foreign exchange transactions in a range of currencies, including the Australian dollar. ... The Bank participates in a cooperative oversight arrangement for CLS,

High Value Payments

9 Mar 2023
The Bank has also identified CLS Bank International (CLS) as a systemically important international payment system. ... CLS is chartered in the United States and is regulated and supervised by the Federal Reserve.

Implications for Non-CLS Banks | Continuous Linked Settlement: RITS Session Times and Operational Arrangements – July 2015

9 Mar 2023
Implications for Non-CLS Banks. It is not mandatory for banks to operate in the Evening Settlement Session. ... Banks that are not settlement members of CLS may settle FX through CLS via a CLS settlement member as a third party.

Other Regulatory Responsibilities

25 Oct 2010 PSB Annual Report – 2010
The Australian dollar was one of seven initial currencies settled when CLS commenced operation in 2002. ... CLS noted that this highlighted the impact of algorithmic trading in the market.