CLS, a market infrastructure delivering settlement, processing and data solutions, has announced that Sumitomo Electric Industries (SEI) is the first Japanese manufacturing company to access CLSSettlement as a third-party participant.

SEI is settling its foreign exchange (FX) transactions in CLSSettlement via its third-party service provider, Sumitomo Mitsui Banking Corporation (SMBC), supported by Bloomberg's FX Confirmation Matching Service (CMS) post-trade processing technology.

CLS says that SEI's participation marks a significant milestone for the Japanese FX market and highlights the continued growth in CLSSettlement third-party participants in Japan.

It says this momentum has been driven by a number of factors: since 2018, the overall number of Asia Pacific third parties (regional/third-party banks, funds, corporates and non-bank financial institutions) participating in the settlement service increased by 15 percent while respective average daily gross values settled increased by 17 percent.

In that same time period, the average daily gross values settled by third-party corporates in the region also increased by over 75 percent.

Takamasa Matsubaya, Senior Vice President of Transaction Products Development, SMBC, said: "There is increasing appetite amongst our corporate clients to mitigate settlement and operational risk and we are pleased to be able to support our clients in achieving this."

Tod Van Name, Global Head of FX Electronic Trading, Bloomberg, commented: "Our CMS solution provides post-trade connectivity between execution and settlement for institutions that are not SWIFT-enabled, allowing them to access CLSSettlement.

"SEI's adoption of the suite of Bloomberg FX solutions optimizes their treasury workflow and achieves advanced automation while meeting the internal market standard with significantly reduced risk."

Margaret Law, Head of Client Development Asia Pacific CLS, added: "Large, multinational corporations are increasingly looking for effective, robust and sustainable solutions to enhance the way they manage risks, cash management, liquidity demands and efficiencies in their multicurrency operations.

"This latest development highlights the continued strong demand from the non-bank community for CLS's services."

How do I enable cookies in my browser?

Internet Explorer
1. Click the Tools button (or press ALT and T on the keyboard), and then click Internet Options.
2. Click the Privacy tab
3. Move the slider away from 'Block all cookies' to a setting you're comfortable with.

Firefox
1. At the top of the Firefox window, click on the Tools menu and select Options...
2. Select the Privacy panel.
3. Set Firefox will: to Use custom settings for history.
4. Make sure Accept cookies from sites is selected.

Safari Browser
1. Click Safari icon in Menu Bar
2. Click Preferences (gear icon)
3. Click Security icon
4. Accept cookies: select Radio button "only from sites I visit"

Chrome
1. Click the menu icon to the right of the address bar (looks like 3 lines)
2. Click Settings
3. Click the "Show advanced settings" tab at the bottom
4. Click the "Content settings..." button in the Privacy section
5. At the top under Cookies make sure it is set to "Allow local data to be set (recommended)"

Opera
1. Click the red O button in the upper left hand corner
2. Select Settings -> Preferences
3. Select the Advanced Tab
4. Select Cookies in the list on the left side
5. Set it to "Accept cookies" or "Accept cookies only from the sites I visit"
6. Click OK

CLS, a market infrastructure delivering settlement, processing and data solutions, has announced that Sumitomo Electric Industries (SEI) is the first Japanese manufacturing company to access CLSSettlement as a third-party participant.

SEI is settling its foreign exchange (FX) transactions in CLSSettlement via its third-party service provider, Sumitomo Mitsui Banking Corporation (SMBC), supported by Bloomberg's FX Confirmation Matching Service (CMS) post-trade processing technology.

CLS says that SEI's participation marks a significant milestone for the Japanese FX market and highlights the continued growth in CLSSettlement third-party participants in Japan.

It says this momentum has been driven by a number of factors: since 2018, the overall number of Asia Pacific third parties (regional/third-party banks, funds, corporates and non-bank financial institutions) participating in the settlement service increased by 15 percent while respective average daily gross values settled increased by 17 percent.

In that same time period, the average daily gross values settled by third-party corporates in the region also increased by over 75 percent.

Takamasa Matsubaya, Senior Vice President of Transaction Products Development, SMBC, said: "There is increasing appetite amongst our corporate clients to mitigate settlement and operational risk and we are pleased to be able to support our clients in achieving this."

Tod Van Name, Global Head of FX Electronic Trading, Bloomberg, commented: "Our CMS solution provides post-trade connectivity between execution and settlement for institutions that are not SWIFT-enabled, allowing them to access CLSSettlement.

"SEI's adoption of the suite of Bloomberg FX solutions optimizes their treasury workflow and achieves advanced automation while meeting the internal market standard with significantly reduced risk."

Margaret Law, Head of Client Development Asia Pacific CLS, added: "Large, multinational corporations are increasingly looking for effective, robust and sustainable solutions to enhance the way they manage risks, cash management, liquidity demands and efficiencies in their multicurrency operations.

"This latest development highlights the continued strong demand from the non-bank community for CLS's services."