MUFG Bank is the latest participant to go live on CLSNet, our bilateral payment netting calculation service for over 120 currencies and includes eight of the top ten global banks.
As the network effect continues to grow, additional participants are expected to go live throughout 2025.
The average daily netted value1 of CLSNet was USD162 billion in Q4 2024, an increase of 22% from the same period in 2023.
“Joining the service will improve our operational efficiency and reduce risk for the currencies that are not currently eligible for CLSSettlement, while supporting our adherence to the best practice settlement risk principles of the FX Global Code.”
Junya Kishida, Head of Global Markets Operations Division, MUFG Bank
CLSNet participants now include:
1 Netted value refers to bilateral net payment amounts calculated by CLSNet
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