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 improves operational efficiency, provides transparency, and reduces operational risk for third parties currently settling in CLS.
The service delivers a real-time consolidated view of the match status details for all trade submitted to CLS.
For asset managers, CLSTradeMonitor enables executed FX trades to be efficiently managed across all their custodian banks.
Meanwhile, trade status details are available across all CLSSettlement providers and counterparties.
Alan Marquard, chief strategy and development officer at CLS, said: “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, commented: “Mesirow Financial continuously looks for ways to enhance its operational efficiency and minimise risks for our clients, and CLSTradeMonitor meets both of these objectives.”
He added: “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."
