Fundtech has created supplementary modules to enhance its PAYplus for CLS system to support FX instruments new to CLS settlement.
PAYplus for CLS aims to ease communication between settlement members, user members, and third party participants, and provide an integrated collection of advanced CLS services, enabling banks to eliminate foreign exchange settlement risk, streamline operations and gain new market share.
The solution will include custody, thin client for third parties, report scheduler and netting modules.
“Fundtech is committed to continuously advancing the features of PAYplus for CLS,” says Mike Sgroe, the president and COO of Fundtech. “Our close association with CLS allows us to be at the forefront of current and future market requirements. Our in-depth understanding of the existing and future CLS business requirements enables us to plan ahead in terms of future FX settlement requirements.”