What happens when this goes wrong?
Every other page shows this payment working. Here you choose what breaks, and follow the damage — because a hold, a return or a missed cut-off is the system working as designed, and reading one calmly is the job.
Pick a failure above. Nothing here is invented — each one is a reason code this rail really uses, at the step where it really strikes.
One EUR/USD trade, one settlement session, direct members only. Real CLS settlement nets many trades across many members each day, funds them on a strict pay-in schedule, and settles inside its own multi-currency books. Amounts are illustrative. Every failure here is authored on CLS: payment-versus-payment FX settlement, with the sources that back it.