A number of requirements have to be met for a currency to be settled via CLS. These requirements ensure that CLS’s participants, and also CLS itself, are not exposed to any uncontrolled risks. The prerequisites/ conditions include appropriate legal foundations and regulations with particular regard to the finality of payments;7 requirements for the convertibility of the currencies and acceptable exchange restrictions or conditions on the transferability of currencies; operational requirements for a country’s large-value payment system; a low country risk; appropriate potential of participating banks; an adequate cost/benefit ratio for the inclusion of a currency; and access to the central bank8 for CLS.