cls bank deals with transactions arising out of the foreign exchange market.
cls bank deals with transactions arising out of the foreign exchange market.
cls bank deals with transactions arising out of?
the foreign exchange market
cls group









































cls (originally continuous linked settlement) is a specialist us financial institution that provides settlement services to its members in the foreign exchange market (fx). although the forex market is decentralised and has no central exchange or clearing facility, firms that chose to use cls to settle their fx transactions can mitigate the settlement risk associated with their trades.









































cls does this through the operation of a payment versus payment (pvp) settlement service which mitigates settlement risk for the fx transactions of its settlement members and their customers (third parties).
cls group
in 2007, cls bank sued alice in the united states district court for the district of columbia seeking a declaratory judgment that alice's patents were invalid and unenforceable and that cls bank had not infringed them. alice countersued cls bank for infringement of the patents. after the court had allowed initial, limited discovery on the questions of cls bank's operations and its relationship to the allegedly infringing cls bank system, the court ruled on the parties' cross-motions for summary judgment. it declared each of alice's patents invalid because the claims concerned abstract ideas, which are not eligible for patent protection under 35 u.s.c. § 101.
alice corp. v. cls bank international