Standard Chartered has gone live on CLSNet, the automated bilateral payment netting calculation service from financial market infrastructure group CLS covering over 120 currencies. The platform standardises and automates post-trade matching and netting, offering risk mitigation and liquidity optimisation for currency flows outside of CLSSettlement. This functionality is particularly relevant for emerging market currencies and same-day trades.
Adoption of the service continues to rise, with the average daily netted value reaching USD 169 billion in the first half of 2025, an 18% increase year-on-year. The network now includes the top 12 global banks, reflecting a broader industry push to reduce settlement risk and adhere to the best practices outlined in Principle 35 of the FX Global Code.
Alongside Standard Chartered, adoption is increasing among Asian financial institutions targeting settlement risk in regional currencies, specifically USD/CNH. CTBC has recently gone live, while Maybank and Taishin have committed to joining the service.
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