Bangkok Bank adopts CLSSettlement 31 May 2023Thailand Reporter: Lucy Carter
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Bangkok Bank Hong Kong Branch (Bangkok Bank) can now access CLSSettlement as a third-party participant, the first Thai bank to be able to do so.
CLSSettlement mitigates settlement risk for FX trades, providing netting and liquidity management. Through its payment-versus-payment system, clients are also able to improve their funding and operational efficiency.
Bangkok Bank joins a number of APAC banks who have onboarded CLSSettlement. CLS aims to continue the expansion of its client base in Asia and make the FX market safer, smoother and more cost-efficient for market participants.
Akira Kato, APAC head of client engagement at CLS, says: “We are pleased to welcome Bangkok Bank as the first Thai bank to access CLSSettlement. As the FX market continues to evolve, it is critical that regional banks have access to robust and reliable solutions like CLSSettlement to mitigate FX settlement risk.”
Arian Fong, head of Bangkok Bank Hong Kong Branch, adds: “It marks an important milestone for Bangkok Bank to have access to CLSSettlement. It will enhance our liquidity pool, reduce the settlement risk associated with FX settlement, and help the bank to grow its FX business further.”
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