Press Release

R3 Secures Strategic Investment from CLS

Press Release:

R3 secures strategic investment from CLS

31 May 2018 (New York and London) Enterprise blockchain software firm R3 has secured a strategic investment from CLS, the market infrastructure group delivering settlement, processing and data solutions.

CLS will work with R3 to explore how Corda, R3’s enterprise blockchain platform, can be deployed to improve efficiencies for its members, including 70 of the world’s leading financial institutions and more than 24,000 third-party clients.

The investment expands R3’s footprint in the FX space and further strengthens its ties to the critical infrastructure underpinning financial markets. CLS holds a unique position at the centre of the global FX market, settling over USD 5 trillion of payments instructions on an average day.

Corda is the world’s only enterprise blockchain platform designed from the ground up for businesses operating in complex and highly-regulated markets. It offers access to a vibrant network of interoperable blockchain applications for finance and commerce.

David E. Rutter, CEO of R3, comments: “CLS is critically important to the functioning of one of the most important markets in the world. It is absolutely right that major infrastructure players like this look to technologies such as blockchain to continue making their products and services faster, easier, safer and more cost-effective for the end user. CLS’s investment is testament to Corda’s position as the enterprise blockchain platform of choice for the financial services industry. We look forward to working with them.”

Alan Marquard, Chief Strategy & Development Officer at CLS, comments: “We are proud to be one of the first market infrastructure providers to form part of the pioneering R3 ecosystem. We look forward to working in collaboration with other members to explore how CLS can provide transformative blockchain-based solutions that deliver efficiencies and risk mitigation for a diverse range of market participants operating in the global FX market.”

###ENDS###

 

About R3

  R3 is an enterprise software firm working with a network of over 200 financial institutions, regulators, trade associations, professional services firms and technology companies to develop on Corda, its blockchain platform designed specifically for businesses.

R3’s global team of over 180 professionals in 11 countries is supported by over 2,000 technology, financial, and legal experts drawn from its global member base. R3 is backed by investment of USD 107 million from over 40 firms.

Corda is the outcome of over two years of intense research and development by R3 and its members and meets the highest standards of the financial services industry, yet is applicable to any commercial scenario. It records, manages and executes institutions’ financial agreements in perfect synchrony with their peers, creating a world of frictionless commerce. Learn more at https://r3.com.

 

About CLS

CLS helps clients navigate the changing FX marketplace – reducing risk and creating efficiencies. Our extensive network and deep market intelligence enable CLS specialists to lead the development of standardized solutions to real market problems. Our innovative, forward-looking products make the trading process faster, easier, safer and more cost-effective – empowering our clients’ success.

 

Press contact

R3:

Nick Warren/Nick Murray-Leslie

Chatsworth Communications

+44 (0)207 440 9780

[email protected]

 

Charley Cooper

R3

+1 929 329 1550

[email protected]

 

CLS:

 Melissa Rowling/Harriet Leatherbarrow

Greentarget

+44 (0)20 7250 7007

[email protected]