The automated and centralized features of CLSNet enable MUFG to implement solutions that reduce settlement risk for non-CLSSettlement eligible currencies and more directly support its adherence to the FX Global code.
Aligning with aspects of the FX Global Code was challenging due to the settlement risk associated with segments of the market not currently covered by PvP, like emerging market currencies.
CLSNet’s implementation has standardized MUFG's netting calculation processes and has exceeded initial expectations for operational efficiencies.
By settling net payment amounts calculated by CLSNet, MUFG experienced a 92% reduction in the number of payments and a 43% decrease in funding requirements