Search: CLS
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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Other Regulatory Responsibilities
11 Sep 2008
PSB Annual Report
– 2008
CLS eliminates this risk by settling both legs of a foreign exchange transaction simultaneously. ... per cent of the value of RTGS transactions, the Bank would review CLS's ES account arrangements.
https://www.rba.gov.au/publications/annual-reports/psb/2008/reg-response.html
Oversight of High-value Payment Systems
12 Sep 2014
PSB Annual Report
– 2014
Consequently, the Bank has identified CLS as a systemically important international payment system. ... CLS is currently finalising a self-assessment of its practices against the Principles.
https://www.rba.gov.au/publications/annual-reports/psb/2014/oversight-high-value.html
Performance of Australia's Payments Infrastructure during the Market Turbulence
2 Oct 2009
PSB Annual Report
– 2009
While Lehman used CLS to settle its foreign exchange transactions, it did so by engaging another bank to settle on its behalf. ... CLS also provides one-sided settlement services in respect of non-deliverable forwards and credit default swaps (CDS).
https://www.rba.gov.au/publications/annual-reports/psb/2009/performance.html
Oversight of High-value Payments Systems
10 Sep 2012
PSB Annual Report
– 2012
Currently, 17 currencies are eligible for settlement in CLS, including the Australian dollar. ... Members meet any Australian dollar settlement obligation by paying into CLS's ESA in RITS.
https://www.rba.gov.au/publications/annual-reports/psb/2012/oversight-high-value.html
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,
https://www.rba.gov.au/publications/annual-reports/psb/2022/financial-market-infrastructures.html
Oversight of High-value Payment Systems
2 Oct 2013
PSB Annual Report
– 2013
Members meet any Australian dollar settlement obligation by making payments into a CLS's ESA via RITS. ... RITS, CLS, the Low Value Settlement Service (LVSS) and Austraclear) and those systems' participants.
https://www.rba.gov.au/publications/annual-reports/psb/2013/oversight-high-value.html
4. Financial Market Infrastructures
21 Oct 2021
PSB Annual Report
– 2021
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. ... systems). Australia. (RBA). CLS. Foreign exchange transactions
https://www.rba.gov.au/publications/annual-reports/psb/2021/financial-market-infrastructures.html
Ongoing Regulatory Responsibilities
13 Sep 2007
PSB Annual Report
– 2007
payment-versus-payment (PvP) settlement (where both currencies are settled simultaneously) prior to the establishment of CLS Bank. ... funds in one currency and receiving funds in another, as occurs with traditional CLS settlements.
https://www.rba.gov.au/publications/annual-reports/psb/2007/reg-response.html
List of tables
20 Sep 2005
PSB Annual Report
– 2005
Table 8: CLS Currencies. Currency. Joined CLS. Australian dollar. September 2002. ... Source: CLS Bank.
https://www.rba.gov.au/publications/annual-reports/psb/2005/tables.html
Contact RITS
9 Mar 2023
Contact information for RITS Members regarding operational assistance or matters relating to the business aspects of RITS and RITS operating hours
https://www.rba.gov.au/payments-and-infrastructure/rits/contacts.html