Standard Chartered Joins CLSNet to Improve FX Operations

CLS announced today that Standard Chartered joins CLSNet, marking another major milestone for the automated bilateral payment netting calculation service that supports more than 120 currencies. With this development, the bank has strengthened its commitment to improving post-trade efficiency and reducing risk across global FX markets. Moreover, the move reflects the financial sector’s growing focus on automation, particularly as currency flows outside of CLSSettlement continue to expand across emerging market and developing economy currencies, as well as same-day trades.

CLSNet has steadily gained momentum, and its adoption shows no signs of slowing. In fact, the service recorded an average daily netted value of USD169 billion during the first half of 2025, representing an 18% increase compared with the same period in 2024. The community surrounding the platform now comprises the top 12 global banks along with an expanding group of regional banks, corporates, funds, and non-bank financial institutions. 

Consequently, its role in supporting FX market participants has become increasingly vital. As settlement risk remains a pressing concern, particularly in EMDE currencies and other rapidly growing market segments, institutions are actively seeking automated post-trade tools that deliver stronger protection. CLSNet addresses this need by centralizing, standardizing, and automating the netting calculation process, which ultimately reduces the volume of payments exposed to settlement risk. 

Standard Chartered Joins CLSNet to Improve FX Operations

Additionally, demand for the service has risen among firms aiming to follow the best practices outlined in Principle 35 of the FX Global Code. Along with Standard Chartered’s integration, several Asian banks have also joined or committed to joining the network. CTBC, the Hong Kong branch of a Taiwanese commercial bank, is now live on CLSNet, while Maybank in Malaysia and Taishin, one of Taiwan’s largest commercial banks, have agreed to join the system as well. Their participation aims to mitigate settlement risk within key Asian currency pairs, especially USD/CNH, thereby enhancing regional FX stability. 

Lisa Danio-Lewis, Chief Growth Officer at CLS, emphasized the significance of this expansion, stating, “We are delighted to welcome Standard Chartered, CTBC, Maybank, and Taishin to the CLSNet community.” She added that growing demand for effective risk-mitigation tools highlights the industry’s need for “proven solutions to address the challenges facing the FX market.”

Tony Hall, Global Head of Global Markets at Standard Chartered, also highlighted the bank’s commitment, remarking, “Standard Chartered is proud to join CLSNet, reaffirming our commitment to strong risk management, liquidity efficiency and operational excellence in FX.” He noted that leveraging CLSNet will support safer and more efficient post-trade processes, ultimately contributing to “world-class infrastructure, smarter execution, and market leadership.”

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