CLS has announced that OTP Bank Plc. has joined CLSSettlement as a settlement member, becoming the second new member this year and bringing the total to 75.
OTP Bank Joins CLSSettlement to Boost FX Risk Mitigation
OTP Bank is one of Hungary’s largest commercial banks and part of OTP Group, a leading banking group in Central and Eastern Europe undergoing significant growth.
Its decision to join CLSSettlement is said to reflect the increasing adoption of payment-versus-payment (PvP) settlement solutions among financial institutions seeking to reduce foreign exchange settlement risk, enhance operational efficiency and improve liquidity.
CLSSettlement is widely recognised as the global standard for FX settlement risk mitigation, covering 18 of the most traded currencies.
In the first half of 2025, it processed an average daily settled value of $7.9 trillion, up 12% from a year earlier.
Lisa Danino-Lewis, chief growth officer at CLS, said: “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.
Danino-Lewis explained that 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, said that 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,” added Bánfi.
