Credit Suisse partner with Logica for their global CLS platform
“Logica’s UK-based helpdesk can count on very savvy and experienced specialists, which really makes a difference to our day-to-day operations,” Andy Aschwanden, Head CLS Platform for Credit Suisse AG
About Credit Suisse
Credit Suisse Group is a world-leading financial services company and a pioneer of foreign exchange
(FX) trading. As part of a consortium, the bank helped invent Continuous Linked Settlement (CLS),
the industry’s first global settlement system. In February 2010, CLS managed over half the world’s
FX payment instructions, accounting for around 775,000 trades and US$ 3.8 trillion every day.
The challenge
FX trading is complex. Messages come in different formats and through a variety of interfaces. At
the time of its inception in 2002, CLS enabled settlement between the world’s then seven largest
currencies. Today it deals with 17. So, as well as providing new capabilities, Credit Suisse needed a
solution to support future expansion.
Our answer
We worked closely with the Bank’s team to understand their requirements and used our CLS
Manager (LCM) solution to tightly integrate the IT environment, applications and financial messaging
systems at their headquarters in Zurich, Switzerland.
A success story
Logica is proud to have been selected to support one of the largest CLS Settlement members and
its ecosystem of third parties and customers. LCM ensures that the Bank meets their obligations
on time every day, controlling and mitigating settlement risk while also controlling costs through
reduced manual effort. But this really only tells part of the story. Continuity is equally valuable. That’s why we’ve had a team looking after the bank for many years.
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