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EXPERTISE
SwiftNet
CRI
CLS
SIT
Consultancy
System Integration
> About CLS
CLS is a unique process for the settlement of Foreign Exchange trades. CLS is an industry initiative to reduce the risks associated with cross-currency transactions. The principle behind CLS is simple:
Members avoid settlement risks by settling trades through a central service provider - the new CLS Bank-which handles the simultaneous exchange of currencies on accounts that have been funded only through RTGS transfers, bringing a speedier and safer settlement process.
Designing and Building the CLS Central System
In 1997, in the early stage of the Functional Requirement Specification process, CLS Services chose IBM in partnership with Diamis to design and implement the Central System for the settlement of Foreign Exchange trades : Continuous Linked Settlement.
Because of this privileged relationship with the CLS Bank which stems from the initial design of the CLS Central system, and more particularly the heading of the External World System team - SWIFTNet, API integration, SWIFT FIN interface and connection to the RTGS systems - Diamis' expertise reaches each and every aspect of the system offered by CLS Bank.
DIAMIS - a Preferential Partner for Your CLS Project
Our active position at the very heart of the CLS Central platform design, combined with acknowledged expertise in Interbank Central Settlement systems and system integration, makes Diamis a preferential partner for your CLS project.
In order to provide a global CLS solution, Diamis has teamed up with Fundtech Corporation, to become a vendor and integrator of Fundtech's PAYplus CLS(tm) software. In the framework of this partnership, Diamis' consultants have acquired thorough knowledge and competence in CLS deployment, which complete their initial CLS central expertise.
Thus, not only can Diamis assist you with functional issues, such as requirements analysis and specification, but also with the commercial aspects of CLS, such as Third Party services strategy.
Diamis offers a wide range of upstream services to accompany banks throughout their CLS project. Business strategy, Nostro Agent, Third Party services, business process re-engineering, liquidity / risk management, FX desks rationalisation, impact study, business and gap analysis, opportunity study and settlement member selection for Third Party Banks.
Integrating Settlement Members' Infrastructure
Diamis is capable of integrating your information system, thanks to a carefully constructed partnership with Fundtech Corporation, centred on their PAYplus CLS(tm) software. Diamis has set up a comprehensive support organisation ranging from hot line to service level commitment, thanks to teams and infrastructures dedicated to CLS projects.
PAYplus CLS(tm) is a comprehensive solution which allows banks to step up to the challenge of the CLS system implementation and reap its full benefits. PAYplus CLS(tm) inter-operates with Settlement Members, Nostro Agents and Third Parties systems in order to provide users with a full set of integrated CLS services.
Key Benefits of PAYplus CLS(tm)
- Improved Risk Management
- Multiple delivery Channels
- Control CLS operating costs
- Lower Exposure to risk and errors
- Efficient process management
Key Features
- Allows for Straight Through Processing
- Comprehensive CLS functionality
- Browser-Based GUI facility
- Flexible, Scalable and Reliable Architecture
- Third party services management
In order to guarantee seamless integration of PAYplus CLS(tm) with legacy systems and back office applications, Diamis has developed a robust integration tool featuring intelligent routing rules and flexible message conversion.
