Nippon Life becomes first NBFI in Japan to settle in CLS
September 5, 2017

Nippon Life Insurance Company has become the first Japanese non-bank financial institution (NBFI) to join the CLS system via third-party access, reports CLS Group (CLS), a provider of risk mitigation and operational services for the global foreign exchange (FX) market.

Nippon Life, Japan's leading life insurance company in terms of net profit, is now settling FX transactions in CLS via its settlement bank. In addition to reduced settlement risk, it will also benefit from streamlined trading operations, as well as liquidity benefits from netting that lower transaction costs while boosting trading and counterparty limit management efficiencies that support business growth opportunities. 

CLS says the addition of Nippon Life marks another milestone in the continued growth of CLS participation across Asia. In 2016, Samsung Securities, a leading South Korean securities company, which became the first NBFI to become a third-party participant in South Korea, was joined by three more of the largest securities brokers and one fund in 2017. 

CLS says that third-party participation globally accounts for approximately 22 percent of the total value settled in CLS, and there was a 12 percent increase in the number of third-party participants using the service in the Asia Pacific region in 2016.





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Nippon Life Insurance Company has become the first Japanese non-bank financial institution (NBFI) to join the CLS system via third-party access, reports CLS Group (CLS), a provider of risk mitigation and operational services for the global foreign exchange (FX) market.

Nippon Life, Japan's leading life insurance company in terms of net profit, is now settling FX transactions in CLS via its settlement bank. In addition to reduced settlement risk, it will also benefit from streamlined trading operations, as well as liquidity benefits from netting that lower transaction costs while boosting trading and counterparty limit management efficiencies that support business growth opportunities. 

CLS says the addition of Nippon Life marks another milestone in the continued growth of CLS participation across Asia. In 2016, Samsung Securities, a leading South Korean securities company, which became the first NBFI to become a third-party participant in South Korea, was joined by three more of the largest securities brokers and one fund in 2017. 

CLS says that third-party participation globally accounts for approximately 22 percent of the total value settled in CLS, and there was a 12 percent increase in the number of third-party participants using the service in the Asia Pacific region in 2016.



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