CLS has announced that OTP Bank PLC has joined the CLSSettlement as a member of the settlement.
The Hungarian Credit Institution is the second new member of the settlement this year, bringing the total number of settlement members to 75.
OTP Bank is one of the largest commercial banks in Hungary. It is part of the OTP Group, a recognized top banking group in the central and eastern European region facing significant growth and expansion.
The OTP Bank, participating in the CLSSettlement, demonstrates the increasing appetite between financial institutions to adopt payment and payment settlement solutions (PVP) to mitigate the FX settlement risk, improve functional profitability and enhance liquidity. CLSSETTLEMENT is recognized as the global standard for mitigating the FX settlement risk to 18 of the most negotiable coins, with average daily established value of 7.9 trillion USD in H1 2025, increased by 12% on a yearly basis.
Lisa Danino-Lewis, Development Manager, CLS commented:
“OTP Bank’s decision to become a member of the settlement reflects the broader trend of financial institutions that focus on alleviating the risk of FX settlement and increasing the efficiency provided through business activities,
Attila Bánfi, CEO of OTP Global Markets, commented:
“Fixing the FX settlement risk is a top priority for OTP Bank.