David Puth Aims to Double CLS’ Currency Trading Coverage

CEO David Puth speaking to the crowd.As the CEO of CLS Group Holdings AG, David Puth guides a leading foreign exchange market transactions provider. Speaking with FX Week in October 2012, he discussed his firm’s ambitious goal to double the number of currencies settled over the next decade.

CLS currently covers 17 currencies, a number that has not changed in more than four years, when the company added the Israeli shekel and Mexican peso. Though Mr. Puth did not give specific timeframes, he noted that the firm is working with China, Thailand, Russia, Chile, and Brazil to enable them to become CLS currencies. The CEO’s commitment to accelerating the currency introduction process reflects an awareness that settlement risk represents the single greatest uncertainty in today’s FX market infrastructure. By effectively doubling currencies covered and creating a superior risk-management system, CLS seeks to alleviate the risks that banks face in terms of settlement risk, the largest identifiable risk in the FX market.

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