BNY Mellon, the world’s largest custodian bank,1 and ING, the largest Dutch bank,2 are the latest participants to agree to join the growing CLSNet community.
As the network effect continues to grow, other participants are also planning to go live throughout 2024. The average daily netted value of CLSNet was over USD160 billion in Q3 2024, an increase of 38% from the same period in 2023.
“CLSNet provides the functionality to strengthen and standardize the post-trade processes across the global currency spectrum.”
Robbert Zee, FM Operations Lead, ING
CLSNet participants now include:
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The growth of CLSNet, the next best thing after CLSSettlement
BNY Mellon and ING agree to join CLSNet community
The continued rise of CLSNet: A new chapter in FX market efficiency