This report from Toronto details the transition of Intraday Liquidity Optimization (ILO) from concept to live infrastructure, providing Canadian banks with real-time visibility and control as they expand across North American payment rails.

Dirk Bullmann (CLS) and Keith Bear (Cambridge) debunk the most persistent myths in FX settlement, revealing why "atomic" doesn't always mean efficient and why instant settlement can actually create a liquidity paradox.

This article details the strategic shift from traditional, episodic Real-Time Gross Settlement (RTGS) simulations to dynamic, always-on digital twins, which integrate real-time transactional data to continuously guide policy, optimize liquidity, and strengthen the resilience of financial market infrastructures.

FNA and CLS leverage Digital Twin technology to quantify the critical trade-off between increasing FX settlement frequency and maintaining the multilateral netting efficiency that saves the industry trillions in daily liquidity.

While "atomic settlement" promises instantaneous and simultaneous asset transfers, it creates unsustainable liquidity costs for financial institutions in a positive interest rate environment. By deploying smart algorithms to group individual trades into efficient "molecules," institutions can achieve near-instant settlement without sacrificing critical liquidity savings.

FNA’s Chief Data Scientist Samantha Cook introduces Payment Threading: a patented solution that uses network community detection to multiply payment system capacity without requiring a total architectural overhaul.

The Bank of England is preparing to replace its 26-year-old core settlement engine, but adapting to this new landscape will require fundamental behavioral shifts from participating banks. In a recent article for The Stack, FNA Founder & CEO Kimmo Soramäki explains why system-wide simulations are essential for coordinating these changes and optimizing liquidity.