Taipei Fubon Bank is the first Taiwanese bank to commit to using CLSNet, CLS’s bilateral payment netting calculation service for over 120 currencies.
Taipei Fubon Bank is the latest participant to join the growing CLSNet community, which includes eight of the top 10 global banks. The service has experienced a significant rise in adoption over the past eighteen months, reporting record volumes and growth. The average daily notional value of net calculations in CLSNet have consistently exceeded USD105 billion in the last 12 months, and in September 2023 it reached a record daily notional of USD367 billion netted.
CLSNet offers standardization and automation through a centralized platform which mitigates risk, reduces operational costs and optimizes liquidity for a growing network of FX market participants. As settlement risk in the FX market continues to be a focus,…
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