The Committee on Payments and Market Infrastructures (CPMI) has released its final report on increasing the adoption of payment-versus-payment (PvP) solutions in financial markets. The report features a description of various ideas, prototypes and models that were submitted in response to its call for ideas in 2021. The report highlights Baton Systems as the only live system available globally, with CLS offering insight into its alternative PvP service. The proposed solutions and ideas under development largely focus on extending the length of settlement windows, better access for smaller participants, instant settlement and netting options, and integrating payments with the associated FX trade.
