NYK Line, a global shipping and logistics company in Japan, has gained access to CLSSettlement as a third-party participant. By participating in CLSSettlement, NYK Line can access the highest standards of FX settlement risk mitigation while also benefiting from improved funding and operational efficiencies through CLS’s unique PvP system. The company is settling its FX transactions in CLSSettlement via its third-party service provider, MUFG Bank (TKY), supported by Bloomberg FXGO® Confirmation and Settlement Services (“FXGO-CMS”). CMS is part of an electronic functionality provided by Bloomberg’s FXGO that enables online reconciliation of foreign exchange transactions between dealers and their clients. Lisa Danino-Lewis, Chief Growth Officer at CLS, commented: “By using CLSSettlement, NYK Line and other large multinational corporates can enhance their risk management, FX operations, cash management and settlement processes. This latest development is seen as a progressive approach for Japanese companies, as it allows them to effectively manage their treasury functions and align with market best practices.”
