CAPS provides a comprehensive outsourcing service for processing CLS transactions.
CAPS essentially forms a link between its customer banks and CLS. Banks send their CLS foreign exchange trades to CAPS in a format of their choosing, where they are transformed into a CLS compliant format for onward submission to CLS.
CAPS processing involves 5 core functions:
Submitting FX trades to CLS
Utilizing FX trade data to transmit valid MT300s via SWIFTNet
Ensuring the safe delivery of trades to CLS via SWIFTNet
Monitoring trade status till trades are settled
Monitoring the matching results of your trades (with your counter-parties’) at CLS
Monitoring & investigating trades cancelled
Monitoring & investigating trades rejected by CLS
Investigate differences in trades between source systems & CLS bank
Reconciling Pay-In Schedules with underlying trade data
Receiving Initial and Revised Pay-In Schedules from CLS
Reconciling Pay-In Schedules against positions in back-office systems. Investigate difference, if any.
Creating and releasing payment type messages to customers
Creating payment types - (MT 202, 298)
Ensuring payment instructions are issued to customers on time so that customers can in turn meet their payment obligations to CLS on time
Monitoring the time-critical payments to CLS
Monitoring status of customers’ payments to CLS against payment deadlines
For more information please contact us here.