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W-2 FAQ
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The CLS settlement process flow is for member banks to send their foreign exchange transaction information to CLS during the day, after which CLS creates a schedule of net payments that the member banks must pay to CLS.
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Continuous Linked Settlement (CLS) is an industry initiative to eliminate the settlement risk in foreign exchange transactions. This is achieved by using a 'payment versus payment' method, which provides a simultaneous exchange of currency values through CLS Bank International.
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CLS Group (for Continuous Linked Settlement), or simply CLS, is a specialized financial infrastructure group whose main entity is the New York-based CLS Bank.
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A multi-module management system designed by Financial MicroSystems for accounting/legal/professional companies.
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