The buyer’s clearing firm arranges with a CLS agent bank to deliver U.S. dollars to the delivery account at the CLS bank.

The buyer’s clearing firm arranges with a CLS agent bank in the currency's country of origin to receive the currency on the contract value date.

Buyer’s clearing firm submits Buyers Delivery Commitment form by 11:00 a.m. CT.

Buyer’s clearing firm submits CLS transactions to CLS bank and provides CME with confirmation of the matched transactions.

The buyer’s clearing firm ensures funding is in place at CLS bank by CLS Bank deadlines.

Buyer’s clearing firm submits CLS transactions for Canadian Dollar contracts to CLS bank and provides CME with confirmation of the matched transactions.

The seller’s clearing firm arranges with a CLS agent bank to deliver the currency in its country of issue at the CLS bank.

The seller’s clearing firm arranges with a CLS agent bank to receive dollars in the U.S. on the contract value date.

Seller’s clearing firm submits Sellers Delivery Commitment form by 11:00 a.m. CT.

Seller’s clearing firm submits CLS transactions to CLS bank and provides CME with confirmation of the matched transactions.

The seller’s clearing firm ensures funding is in place at CLS bank by CLS Bank deadlines.

Seller's clearing firm submits CLS transactions for Canadian Dollar contracts to CLS bank and provides CME with confirmation of the matched transactions.