Effective for June 2008 currency deliveries, clearing member firms may settle their Mexican Peso and Israeli Shekel deliveries through Continuous Linked Settlement (CLS). In order to utilize CLS a clearing member firm or customer of a firm must have a relationship with a CLS Settlement Member. Clearing member firms not currently using CLS to settle their currency deliveries must advise Clearing House Deliveries of their intentions to settle CLS by no later than Monday, June 2nd.
In addition, the Clearing House will waive the CLS assessment fee of $25 per million for any CLS eligible currency pair exceeding the threshold of $25 million in the Mexican Peso and Israeli Shekel that settles outside of CLS only for the June 2008 deliveries.
If there are any questions, please do not hesitate to contact Deliveries at (312) 930-3172.