Banco Monex Live on CLSNet

Mexico’s Banco Monex has become the latest institution to go live on CLSNet, CLS’s bilateral payment netting calculation service.

CLS says CLSNet, which supports over 120 currencies and thus fills gaps left by the utility’s main settlement service, has seen a notable rise in adoption over the past year, recording an average daily netted value of $169 billion in the first half of 2025, up 18% compared to the same period last year. What CLS terms the top 12 global banks support CLSNet, alongside a roster of regional banks, funds, corporates and non-bank financial institutions. 

As settlement risk in the FX market continues to be a focus, particularly in emerging market currencies and other growing segments of the market, CLS says participants are looking for ways to mitigate risk effectively via automated post-trade services such as CLSNet.

“CLS sees a rising need for proven, forward-looking solutions to address challenges facing the FX market,” says Lisa Danino-Lewis, chief growth officer at CLS. “With more participants joining CLSNet, the expanding network effect is set to amplify risk mitigation and operational efficiency for all participants in the service.”

Mauricio Naranjo, CEO, Monex, adds, “This solution provides greater support and reduces risk in our clients’ operations by enhancing intraday liquidity and execution efficiency. Banco Monex has been a member of CLS’s settlement service since 2018.”