First Abu Dhabi Bank (FAB), the UAE's largest bank and one of the world's largest and safest financial institutions, has signed a testing and trialing agreement with CLS for its confirmation, matching, and netting service ‘CLSNet’. FAB, which has marked another regional first through this agreement, will be able to automate and standardise the netting calculation and reconciliation process with counterparties by using CLSNet, thereby increasing efficiencies and reducing potential operational discrepancies. Netting – which offsets receivables against payments due and therefore reduces net payments and saves transaction costs – ...