OTP Bank Joins CLS Settlement

CLS says that Hungary’s OTP Bank, has joined CLS Settlement as a settlement member, becoming the second institution to do so this year and bringing the number of Settlement Members to 75.

OTP Bank is one of the largest commercial banks in Hungary and part of the wider OTP Group, that operates banks in the Central and Eastern European region. CLS says the bank joining CLS Settlement demonstrates the growing appetite among financial institutions to adopt payment-versus-payment (PvP) settlement solutions to mitigate FX settlement risk, improve operational efficiency and enhance liquidity. The service had an average daily settled value of $7.9 trillion in H1 2025, up 12% year-on-year. 

“OTP Bank’s decision to become a settlement member reflects the broader trend of financial institutions focusing on mitigating FX settlement risk and increasing efficiencies delivered through multilateral netting,” says Lisa Danino-Lewis, chief growth officer, CLS. “Multilateral netting yields significant liquidity benefits for CLS settlement members, resulting in liquidity savings of approximately 96%, enabling cash flow to be available for other business operations like trading and business growth.” 

Attila Bánfi, managing director of OTP Global Markets, adds, “Mitigating FX settlement risk is a key priority for OTP Bank. Joining CLS Settlement as a settlement member reflects our dedication to creating a more robust FX ecosystem, and our commitment to adopting best practices across our risk management and middle office functions.”