Nippon Life gains third-party access to CLS

The life insurer is the first non-bank financial institution to settle FX trades with CLS in Japan

A street in Japan
Hot market: Japan accounted for 6.1% of global over-the-counter FX turnover in 2016

Nippon Life Insurance Company, Japan’s largest life insurer by revenue, has joined CLS via a third-party service provider to become the first non-bank financial institution to use the foreign exchange settlement system in the country.

The announcement highlights CLS’s continuing interest in the Asia-Pacific region, following the partnership with Samsung Securities, a leading South Korean securities company, in January 2016.

Third-party participation accounts for approximately 22% of the total

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