CLS has announced that OTP Bank Plc. She joined Clssettlement as a settlement member, becoming the second new member this year and bringing the total to 75.
OTP Bank is one of the largest commercial banks in Hungary and part of the OTP group, a leading banking group in Central and Eastern Europe that is going through great growth.
It is said that its decision to join CLSSETLEMENT reflects the increase in the adoption of payment for payment (PVP) between financial institutions that seek to reduce the risk of foreign exchange settlement, enhance operational efficiency and improve liquidity.
CLSSETTLEMENT is widely recognized as the global standard for mitigating FX settlement risks, which covers 18 of the most trading currencies.
In the first half of 2025, it tackled a medium value per day of $ 7.9 trillion, an increase of 12 % over the previous year.
Lisa Danino Lewis, chief growth in CLS, said: “The decision of the Bank of the settlement to become a settlement member reflects the broader direction of financial institutions that focus on mitigating the risk of FX settlement and increasing the efficiency that is offered through the multilateral nets.
Danino-Lewis explained that multilateral netting “gives great advantages to the CLS settlement, which leads to approximately 96 % liquidity, allowing the cash flow available to other commercial operations such as trading and business growth.”
Attila Bannie, Managing Director of OTP markets, said that the Reducing the risk of FX’s settlement is a major priority for the OTP Bank.
Bánfi added: “Joining CLSSETLEMENT as a settlement member reflects our dedication to creating a more powerful environmental system, and our commitment to adopting best practices through risk management and middle office functions.”