Future of CLS - Bank of England
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Transcript Future of CLS - Bank of England
Future of CLS
Barry McCarraher
Global Markets Operations
Assessment of CLS
Powerful Distribution Channel
Infrastructure well ingrained within Member Banks
Established Industry Procedures
High Confidence
Technologically Resilient
Today’s Environment
Increasing Documentation/Regulatory Requirements
Basle II, KYC, Patriot Certification, Tax Reporting and SSI’s
Cash Flow Management by Currency
Existing Settlement Risk for Customers and Products
High Processing Cost
Future of CLS
New Solutions
Single Cash Management
Create a Single Treasury Settlement
Accessible to Larger Client Base
Execution
Single Action of Deal Execution and Settlement
Standardization
Central Repository for Document Management
Why Not?