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Banco Monex goes live on CLSNet
CLS announced today that Banco Monex has gone live on CLSNet, its automated bilateral payment netting calculation service for over 120 currencies.
CLSNet is an automated bilateral payment netting calculation service for over 120 currencies. The service standardizes and automates post-trade matching and netting processes, delivering risk mitigation, liquidity optimization and operational efficiencies for currency flows outside of CLSSettlement, including emerging market currency flows and same-day trades.
CLSNet has seen a significant rise in adoption over the past year, with the service recording an average daily netted value1 of USD169 billion in the first half of 2025, up 18% compared to the same period last year. Committed to the CLSNet community are the top 12 global banks alongside a growing roster of regional banks, funds, corporates and non-bank financial institutions.
As settlement risk in the FX market continues to be a focus, particularly in emerging market currencies and other growing segments of the market, participants are looking for ways to mitigate risk effectively via automated post-trade services such as CLSNet. The demand for safe and efficient settlement mechanisms continues to grow, particularly among financial institutions seeking to align with the best practices outlined in Principle 35 of the FX Global Code.2
“This solution provides greater support and reduces risk in our clients' operations by enhancing intraday liquidity and execution efficiency.”
CEO
Monex
Lisa Danino-Lewis, Chief Growth Officer, CLS commented: “We are delighted to welcome Banco Monex to the CLSNet community. CLS sees a rising need for proven, forward-looking solutions to address challenges facing the FX market. With more participants joining CLSNet, the expanding network effect is set to amplify risk mitigation and operational efficiency for all participants in the service.”
Mauricio Naranjo, CEO of Monex, commented: "This solution (CLSNet) provides greater support and reduces risk in our clients' operations by enhancing intraday liquidity and execution efficiency. Banco Monex has been a member of CLS’s settlement service since 2018."
1 Netted value refers to bilateral net payment amounts calculated by CLSNet.2 Principle 35 states, inter alia:
Where practicable, Market Participants should eliminate Settlement Risk, for example by using settlement services that provide PvP settlement.
Where Settlement Risk cannot be eliminated, Market Participants should reduce the size and duration of their Settlement Risk as much as practicable. The netting of FX settlement obligations (in particular the use of automated netting systems) is encouraged.