The FX industry veteran behind a proposed payments netting service reckons it could save global banks hundreds of millions of dollars a year by reducing interbank payment flows and associated liquidity and capital management obligations.
Cash Netting Services (CNS) is an information service created to help banks identify netting opportunities on a bilateral basis.
Banks settle a net position with a single payment at the end of each netting session using existing payment methods. Some payment infrastructures incorporate netting mechanisms, such as Clearing House Interbank Payments Systems (CHIPS) for USD payments.
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