CLS welcomes DIC Corporation to CLSSettlement
DIC Corporation has become the third Japanese manufacturing company to indirectly access CLSSettlement as a third-party participant. The company will access CLSSettlement via its third-party service provider, MUFG Bank.
By using CLSSettlement in conjunction with an FX trading platform and confirmation matching service, DIC will benefit from streamlined data processing from trade execution through settlement, eliminating time-consuming manual processes. CLSSettlement also delivers operational efficiencies and settlement risk mitigation.
DIC’s participation highlights the growing adoption of CLSSettlement by corporates in Japan and also demonstrates the commitment to improving the overall efficiency and safety of the FX market in the Asia Pacific region.
Lisa Danino-Lewis, Chief Growth Officer, CLS, commented:
“By using CLSSettlement, DIC and other large multinational corporates can enhance their risk management, FX operations, cash management and settlement processes. This latest development is seen as a progressive approach for manufacturing and service companies, as it allows them to effectively manage their treasury functions and align with market best practices.”
CLSSettlement also supports FX market participants’ adherence to Principle 35 of the FX Global Code.