CLS Group experiences 5.4% downturn in settlement and aggregation in November


FX clearing house and settlement firm CLS Group has today announced its monthly volume figures for November 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 1,385,840, representing a 5.4% decrement from the 1,465,105 achieved in October, whilst the average daily input value submitted to CLS was US$5.17 trillion, which is down 2.3% from the US$5.29 trillion in October.

David Puth, CEO of CLS made a corporate statement that “In November, we saw average daily input volumes submitted to CLS dip slightly from October. However, it was still one of our strongest of the year. Input values were also down marginally from October, yet remained above the USD5 trillion mark for the third month in a row.”

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

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Input volumes are the number of instructions received by CLS on a given day for future settlement, whereas input instructions are not necessarily settled during the month in which they were submitted.

An important note is that CLS reports both sides of an FX transaction. 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.

In January 2013, CLS recalculated its monthly data, resulting in non-material changes to volume figures by an average of 0.5%. The data above reflects this calculation.

 

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CLS Group experiences 5.4% downturn in settlement and aggregation in November

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