CLS has announced that U.S. Bank National Association (U.S. Bank) has joined CLSSettlement as a settlement member and become the third settlement member to join this year, bringing the total number of settlement members to 76. CLSSettlement is recognized as the global standard in FX settlement risk mitigation across 18 of the most traded currencies, with an average daily settled value of USD7.9 trillion in the first half of 2025, an increase of 12% year-on-year.
Lisa Danino-Lewis, Chief Growth Officer, CLS said: “We are delighted that U.S. Bank has joined the growing CLSSettlement community. Having one of the US’s largest banks by assets under management join our network is a testament to the benefits CLSSettlement provides to FX markets participants. The service not only offers funding and liquidity efficiencies through multilateral netting but also mitigates settlement risk through PvP settlement. CLSSettlement settles over USD7 trillion per day in 18 currencies for our 76 settlement members and over 38,000 third-party participants.”
