U.S. Bank National Association joins CLSSettlement
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U.S. Bank National Association joins CLSSettlement 17 September 2025US Reporter: Zarah Choudhary
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CLS, a financial market infrastructure group, has announced that the U.S. Bank National Association has joined CLSSettlement as a settlement member.
The bank is the third settlement member to join this year, bringing the total number to 76.
The firm says that with the increasing industry focus on settlement risk mitigation, the growing adoption of CLSSettlement demonstrates appetite amongst financial institutions to adopt payment-versus-payment (PvP) settlement solutions.
Lisa Danino-Lewis, chief growth officer, CLS says: “We are delighted that the U.S. Bank has joined the growing CLSSettlement community. Having one of the US’s largest banks by assets under management join our network is a testament to the benefits CLSSettlement provides to FX markets participants.
“The service not only offers funding and liquidity efficiencies through multilateral netting but also mitigates settlement risk through PvP settlement.”
Chris Braun, global head of FX, U.S. Bank adds: “Our continually expanding FX business helps firms across the US manage currency risk with tailored mitigation strategies, deep market insight and reliable execution.
“Joining CLSSettlement is another step forward in our progress in delivering comprehensive, best-in-class FX services to our clients.”
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