Titanium Media reported on August 7 that China CITIC Bank became the first bank of China to join CLSSettlement (CLS Settlement Service) as a third-party customer.

CLSSettlement's understanding of the risks associated with foreign exchange settlement has been strengthened, demonstrating the ability to proactively adopt global practices to mitigate risk and enhance control, as well as the driving force for improving operational efficiency and reducing costs. Furthermore, industry initiatives such as the launch of the FX Global Code of Conduct (FX Global Code) have further strengthened the awareness that all foreign exchange market participants need to adopt best practices in settlement and post-transaction processing.