Daiwa Securities Becomes Newest CLS Settlement Member

Japanese firm joins 65 other financial firms on CLS's settlement and risk mitigation system.

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CLS Group, a provider of risk management and operational services for the foreign exchange (FX) market, has added Daiwa Securities as a settlement member.

The Japanese firm has roughly $478 billion in assets under custody and will join 65 other financial firms that are direct participants in CLS's settlement and risk mitigation system. The system settles approximately $5 trillion a day on behalf of clients in payments relating to FX trades across 18 currencies.

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