OTP Bank joins CLSSettlement as a settlement member
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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 FX markets evolve, 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.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.'
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