Tag: MTBJ

MTBJ

CLS Adds Japanese Funds to Settlement Service

CLS has announced today that the first Japanese-domiciled funds have access to CLSSettlement as third-party clients.

Asset manager Fidelity International and The Master Trust Bank of Japan  (MTBJ), a trust bank exclusively engaged in asset management, have the first Japanese-domiciled funds to settle FX transactions in CLSSettlement. CLS says that this marks the start of a coordinated industry-wide effort to onboard the Japanese buy-side community to its settlement service over the next few years.

Fidelity International and MTBJ are being supported by Brown Brothers Harriman (BBH), which acts as MTBJ’s custodian for non-Japanese securities and related currency movements outside of Japan. BBH has made its third-party access to CLSSettlement available to facilitate MTBJ’s settlement of FX transactions.