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CLS is a real-time system that enables simultaneous settlement globally, irrespective of time zones. CLS is an ongoing process of: submitting instructions - receiving payments of specified currencies from customers. funding - settling pairs of instructions that satisfy all criteria.

The actual settlement window lasts for 5 hours from 7.00 h to 12.00 h Central European Time (CET)2. During this period of time the opening hours of all involved national RTGS systems overlap, which enables CLS Bank to perform transactions in all currencies on a real-time basis.

A good example is a USD/JPY transaction: Outside CLS, the seller settles his JPY on T-1, whilst the buyer settles the USD on T. With CLS, the two flows are simultaneously settled. This is the Payment versus Payment (PvP) principle.

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.

To create an Instant Settlement: Log in to the Dashboard. Navigate to Settlements. Click Settle Now. The Instant Settlement pop-up opens. Enter the amount you want to settle to your bank account. This can either be your full Current Balance or a part of it. ... Click Confirm.

Continuous Linked Settlement (CLS) is a global initiative to reduce foreign exchange settlement risk by settling both legs of foreign exchange transactions simultaneously.

Settlement risk is minimized by the solvency, technical skills, and economic incentives of brokers. Settlement risk can be reduced by dealing with honest, competent, and financially sound counterparties. Unsurprisingly, settlement risk is usually nearly nonexistent in securities markets.