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OTP Bank has joined CLSSettlement as a settlement member
CLS announced that OTP Bank Plc. (OTP Bank), has joined CLSSettlement as a settlement member. The Hungarian credit institution is the second new settlement member to join this year, bringing the total number of settlement members to 75.
OTP Bank is one of the largest commercial banks in Hungary. It is part of OTP Group, a recognized leading banking group in the Central and Eastern European region that is experiencing significant growth and expansion.
OTP Bank joining CLSSettlement demonstrates the growing appetite among financial institutions to adopt payment-versus-payment (PvP) settlement solutions to mitigate FX settlement risk, improve operational efficiency and enhance liquidity. CLSSettlement is recognized as the global standard in FX settlement risk mitigation across 18 of the most traded currencies, with an average daily settled value of USD7.9 trillion in H1 2025, up 12% year-on-year.
As the FX market evolves, the demand for secure and efficient settlement mechanisms continues to grow, particularly among financial institutions seeking to align with the settlement risk best practices outlined in Principle 35 of the FX Global Code.[1]
Lisa Danino-Lewis, Chief Growth Officer, CLS commented: “OTP Bank’s decision to become a settlement member reflects the broader trend of financial institutions focusing on mitigating FX settlement risk and increasing efficiencies delivered through multilateral netting. Multilateral netting yields significant liquidity benefits for CLS settlement members, resulting in liquidity savings of approximately 96%, enabling cash flow to be available for other business operations like trading and business growth.”
Attila Bánfi, Managing Director of OTP Global Markets commented: “Mitigating FX settlement risk is a key priority for OTP Bank. Joining CLSSettlement as a settlement member reflects our dedication to creating a more robust FX ecosystem, and our commitment to adopting best practices across our risk management and middle office functions.”
“OTP Bank’s decision to become a settlement member reflects the broader trend of financial institutions focusing on mitigating FX settlement risk and increasing efficiencies delivered through multilateral netting”
Chief Growth Officer
About OTP Group
OTP Group is one of the fastest growing and one of the leading banking groups in the Central and Eastern European region, with outstanding profitability and a stable capital and liquidity position. With nearly 40,000 employees in now 11 countries of the CEE and Central Asian region, the Group provides universal financial services for 17 million customers. As the most active consolidator in the banking sector of the Central and Eastern European region, the Group has successfully acquired and integrated 25 banks since the early 2000s. OTP Group is headquartered in Hungary and has a diversified and transparent ownership structure. The Banking Group has been listed on the Budapest Stock Exchange since 1995.
[1] 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.