State Street provides CLSSettlement to Japanese pension fund
Unnamed Japan-based pension fund is part of pilot to mitigate pension funds’ FX trading risks
State Street is giving a Japanese pension fund access to CLS’s foreign exchange settlement – the latest Japan-based buy-side firm to adopt the CLSSettlement platform.
The unnamed pension fund will serve as a pilot to facilitate settlement and mitigate the operational risks associated with FX trading of pension funds in Japan, CLS said in a media release.
The latest adoption comes as the Bank of Japan and the country’s Financial Services Agency are urging local buy-side firms to settle their FX
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