Third-party settlement services

For institutions who:

• Wish to benefit from the risk reduction and cash and liquidity management benefits arising from CLS
• Are unable to justify the significant investment required in direct membership
• Are unable to justify the infrastructure costs arising from direct membership

If direct membership of CLS is not an option, institutions will be able to access CLS as Third Parties or participants, operating through the intermediary of one of the direct Members.

The appointment of the right Member to act as Settlement Agent is an important decision for you to make. Ideally, the Member that you appoint should be a fully paid up Settlement Member of CLS and should have the ability to provide a global multi-currency settlement service with easy direct access to the RTGS systems of all the eligible currencies.

HSBC's Third Party Proposition

HSBC is your ideal partner for CLS because:

• Central location for processing in London maximises operational efficiency
• Regional support being provided through HSBC’s global network

Therefore HSBC's Third Party customers will obtain a consistent level of service irrespective of where they are located.

The options on this page will provide you with greater insight into HSBC's Third Party proposition and will assist you by highlighting some of the issues that you will need to address if you wish to participate in this important industry initiative.