Future of CLS - Bank of England

Report
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?

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