NYK Line, a global shipping and logistics company in Japan, has gained access to CLSSettlement as a third-party participant.

By participating in CLSSettlement, NYK Line can access the highest standards of FX settlement risk mitigation while also benefiting from improved funding and operational efficiencies through CLS’s unique PvP system.

The company is settling its FX transactions in CLSSettlement via its third-party service provider, MUFG Bank (TKY), supported by Bloomberg FXGO® Confirmation and Settlement Services (“FXGO-CMS”).

CMS is part of an electronic functionality provided by Bloomberg’s FXGO that enables online reconciliation of foreign exchange transactions between dealers and their clients. NYK Line will now benefit from the enhanced liquidity and flexibility in FX execution provided by CLS’s settlement service.

The collaboration with MUFG and Bloomberg will also help streamline their FX matching and execution needs, allowing NYK Line to further optimize and safeguard its treasury and currency management functions. NYK Line’s participation highlights the growing adoption of CLSSettlement by corporates in Japan and 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 at CLS, commented:

“By using CLSSettlement, NYK Line 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 Japanese companies, as it allows them to effectively manage their treasury functions and align with market best practices.”

Takashi Kurokawa, General Manager of Finance Group at NYK Line commented:

“By accessing CLSSettlement through MUFG and utilizing Bloomberg’s matching service, we expect to further reform our operations and strengthen our cost competitiveness. We also feel that there is great potential, and we look forward to future results.”