CLS welcomes first Chinese third-party bank to CLSSettlement
August 6, 2019

CLS, a market infrastructure group delivering settlement, processing and data solutions, has announced today that China CITIC Bank International Limited (CNCBI) is the first Chinese bank to access CLSSettlement as a third-party client.

It says this latest addition in Asia Pacific signifies an overall growth in third-party participation in CLSSettlement throughout the region. This momentum has been driven by a 21 percent increase in the overall number of third parties (regional/third-party banks, funds, corporates and non-bank financial institutions), as well as the increase of 36 percent in average daily gross volumes settled by third-party participants in the last three years.

CLS adds that the industry drivers leading to the increased use of CLSSettlement among third-party clients in Asia Pacific include the heightened awareness of risks associated with foreign exchange (FX) settlement, the ability to demonstrate proactive adoption of global best practices in mitigating risks and establishing stronger controls, the drive to improve operational efficiency, and reduce costs.

In addition, industry initiatives such as the introduction of the FX Global Code have further increased awareness of the need to adopt a best practice approach to settlement and post-trade processing among all FX market participants.





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CLS, a market infrastructure group delivering settlement, processing and data solutions, has announced today that China CITIC Bank International Limited (CNCBI) is the first Chinese bank to access CLSSettlement as a third-party client.

It says this latest addition in Asia Pacific signifies an overall growth in third-party participation in CLSSettlement throughout the region. This momentum has been driven by a 21 percent increase in the overall number of third parties (regional/third-party banks, funds, corporates and non-bank financial institutions), as well as the increase of 36 percent in average daily gross volumes settled by third-party participants in the last three years.

CLS adds that the industry drivers leading to the increased use of CLSSettlement among third-party clients in Asia Pacific include the heightened awareness of risks associated with foreign exchange (FX) settlement, the ability to demonstrate proactive adoption of global best practices in mitigating risks and establishing stronger controls, the drive to improve operational efficiency, and reduce costs.

In addition, industry initiatives such as the introduction of the FX Global Code have further increased awareness of the need to adopt a best practice approach to settlement and post-trade processing among all FX market participants.



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