Nomura’s asset manager extends CLSSettlement to Japanese funds
First local asset manager to provide access in sign of success for buy-side adoption push
Nomura Asset Management is gearing up to give 21 Japanese investment trust funds access to CLS’s foreign exchange settlement service – a sign that efforts to spur Japan’s buy-side community into adopting payment-versus-payment (PvP) are paying off.
The Bank of Japan and Japan’s Financial Services Agency have been working to galvanise local market participants to settle their FX transactions in CLSSettlement, a PvP service, to temper their currency risk exposure.
“We are pleased to be the
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