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Standard Chartered goes live on CLSNet
CLS announced today that Standard Chartered, a leading international cross-border bank, has gone live on CLSNet, its automated bilateral payment netting calculation service for over 120 currencies.
CLSNet 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 and developing economy (EMDE) currencies and same-day trades.
Adoption of CLSNet has continued to grow significantly, 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 in 2024. The CLSNet community now includes 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 remains a focus, particularly in EMDE currencies and other growing segments, market participants are looking for ways to mitigate risk effectively via automated post-trade services such as CLSNet. The service reduces payments exposed to settlement risk by centralizing, standardizing and automating the netting calculation process. Demand for CLSNet continues to grow, particularly among financial institutions seeking to align with the best practices outlined in Principle 35 of the FX Global Code.2
“By leveraging CLSNet capabilities, we’ll deliver safer, faster and more efficient post-trade processing—freeing up intraday liquidity and reducing settlement risk for our clients.”
Alongside Standard Chartered, several Asian banks are joining the service. CTBC, the Hong Kong branch of a Taiwanese commercial bank, has gone live on CLSNet, meanwhile Maybank, a Malaysian bank, and Taishin, one of the largest commercial banks in Taiwan, have also committed to joining the CLSNet network to mitigate settlement risk within Asian currencies, particularly USD/CNH.
Lisa Danio-Lewis, Chief Growth Officer, CLS commented: “We are delighted to welcome Standard Chartered, CTBC, Maybank and Taishin to the CLSNet community. We are seeing increased demand for proven solutions to address the challenges facing the FX market. As more participants join CLSNet, the resulting network effect will deliver even greater risk reduction and efficiency benefits for all users.”
Tony Hall, Global Head of Global Markets, Standard Chartered commented: “Standard Chartered is proud to join CLSNet, reaffirming our commitment to strong risk management, liquidity efficiency and operational excellence in FX. This step aligns with our role as a signatory to the Global FX Code and our ambition to be the leading Emerging Markets FX house. By leveraging CLSNet capabilities, we’ll deliver safer, faster and more efficient post-trade processing—freeing up intraday liquidity and reducing settlement risk for our clients. Another stride towards world-class infrastructure, smarter execution, and market leadership.”
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.