CLS, the leading provider of foreign exchange (FX) settlement services, announced that OTP Bank Plc, one of Hungary’s largest commercial banks, has joined CLSSettlement as a settlement member. This marks the second new member to join CLS this year, bringing the total number of settlement members to 75.

OTP Bank Joins CLSSettlement, Expanding Global FX Risk Mitigation Network

So, OTP Bank is part of the OTP Group, a prominent banking conglomerate in Central and Eastern Europe, currently experiencing significant growth and regional expansion. By joining CLSSettlement, OTP Bank demonstrates the increasing appetite among financial institutions to adopt payment-versus-payment (PvP) settlement solutions. These solutions are going to reduce FX settlement risk, improve operational efficiency, and enhance liquidity management.

CLSSettlement is globally famous as the standard for FX settlement risk mitigation, covering 18 of the world’s most traded currencies. In the first half of 2025, CLS settled an average daily value of USD 7.9 trillion, reflecting a 12% year-on-year increase.

So, Lisa Danino-Lewis, Chief Growth Officer at CLS, emphasized the benefits of membership: “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, resulting in approximately 96% liquidity savings. This enables cash flow to be redirected towards other crucial business operations such as trading and growth.”

Moreover, Attila Bánfi, Managing Director of OTP Global Markets, added, “Mitigating FX settlement risk is a key priority for OTP Bank. Joining CLSSettlement underscores our dedication to creating a more robust FX ecosystem and our commitment to adopting best practices across risk management and middle office functions.”

With OTP Bank’s addition, CLS continues to strengthen its global network, supporting safer and more efficient FX markets worldwide.

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