CLS Adds Japanese Manufacturer
Posted by Colin Lambert. Last updated: January 25, 2024
CLS is maintaining momentum in Japan with the addition of a third manufacturing company, DIC Corporation, joining CLS Settlement as a third-party member.
DIC is a chemical manufacturer of printing inks, organic pigments and PPS compounds, operating in more than 60 jurisdictions worldwide and will access CLS Settlement via its third-party service provider, MUFG Bank.
CLS says the firm, by using CLS with an FX trading platform and confirmation matching service, will benefit from streamlined data processing from trade execution through settlement, eliminating time-consuming manual processes.
“By using CLS Settlement, DIC and other large multinational corporates can enhance their risk management, FX operations, cash management and settlement processes,” says Lisa Danino-Lewis, chief growth officer, CLS. “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.”