CLS FX settlement and aggregation down 16.5% in February

FX settlement utility CLS Group has today announced its monthly volume figures for February 2015 which relate to its CLS settlement service and aggregation service.

February’s performance reflected commonality with many industry participants during a month which turned low volumes across the entire FX industry.

The average daily input volume submitted to CLS, combining the settlement and aggregation services, was 1,185,696 down 16.5% from 1,419,369 in January 2015, whilst the average daily input value submitted to CLS was USD 4.87 trillion down 8.3% from USD 5.31 trillion in January 2015.

January’s figures were particularly high, as the first month of this year heralded a 16% increase in settlement and aggregation volume compared with December 2014.

During the latter part of 2014, CLS Group had experienced a downturn in settlement and aggregation activity, culminating in an 11.7% drop in December compared with November, which itself was a month that represented a contraction of 5.4% in settlement and aggregation.

David Puth, CEO of CLS, today commented: “The FX market moved to a period of notably lower volatility during the month of February following the unprecedented movements that followed the Swiss National Bank’s announcement on 15 January. European currencies and the Japanese yen traded in a relatively narrow range during the month. As a result, average daily input volumes in CLS for February decreased by 16.5% while daily input values dropped by 8.3% month on month.

“During the past six months we have passed a number of major milestones with record activity at CLS. Ongoing investment in building capacity and resiliency in our systems has enabled CLS to process this increased activity seamlessly, on time, every day” concluded Mr. Puth.



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