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CLSNet growth Q4 2024
The average daily netted value in CLSNet rose by 22 percent in the fourth quarter of 2024 to USD162 billion, compared with the same quarter in 2023. This was partly due to a new record daily netted value of USD620 billion on 18 December 2024.
MUFG is the latest participant to go live on the service. As the CLSNet community continues to build, participants in the service will increasingly benefit from the expanding roster of counterparties with whom they can fully automate the netting calculation process.
Designed to standardize and centralize post-trade processes for over 120 currencies across various FX trade types, including same-day trades and NDFs, CLSNet helps market participants to reduce risk and achieve greater operational efficiency for a broad range of currency flows.
As settlement risk in the FX market continues to be an area of focus – particularly for emerging market currencies and other growing segments – market participants are looking for other ways to mitigate risk effectively.
Lisa Danino-Lewis, Chief Growth Officer, CLS, commented, “We are delighted to announce that MUFG has gone live on CLSNet. As our network expands, more and more participants around the world will experience significant improvements in operational efficiencies and risk mitigation.”
Junya Kishida, Head of Global Markets Operations Division, MUFG Bank, added: “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.”