CLS experiences further 11.7% downturn in settlement and aggregation in December

FX clearing house and settlement firm CLS Group has today announced its monthly volume figures for December 2014 which relate to its CLS settlement service and aggregation service.

The average daily input volume submitted to CLS, combining the settlement and aggregation services, was 1,223,109, representing an 11.7% decrement from the 1,385,840 achieved in November, itself a 5.4% reduction from October’s results.

Average daily input value submitted to CLS during December was US$4.87 trillion, which is down 5.3% from the US$5.17 trillion in November.

CLS reports both sides of an FX transaction, therefore to adjust the average daily value data to equate to the same reporting convention used by the Bank for International Settlements and the semi-annual foreign exchange committee market reports, the gross values should be divided by two

The company ended the year 2014 with a lower average daily input volume of instructions when viewing the performance across the entire year. During 2014, the company averaged a total of 1,161,205 daily instructions between January 1, 2014 and December 31, 2014, compared to 1,192,624 for the same period during 2013.

On an annual basis, whilst average daily handling of settlement remained very similar to that of 2013, CLS Aggregation Service average daily input was significantly less, reducing from an average daily value of 391,570 in 2013, compared to 359,923 in 2014, thus affecting the overall figure.

This dynamic for December experienced by CLS reflects the general landscape of the FX industry as a whole, which enjoyed extremely buoyant September and October volumes, tailing off slightly during November, and in this case further still in December, however in the case of CLS, October’s figures represented an 11% decline over September’s high point.

In monetary terms, the firm’s average daily input value of matched instructions actually increased when considering activity from the entire year, standing at US$5.14 trillion compared to US$4.99 trillion during the halcyon days of 2013.


For the official announcement from CLS, click here.

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