FX settlement provider CLS has reported a decrease in month-on-month average daily instruction volumes, yet year-on-year average daily instructions have risen.
Combined settlement and aggregation services fell 10.6% in April from the previous month to a daily average of 1.19 million instructions, but increased from 983,850 instructions recorded in April 2014.
The average daily input value submitted to CLS also fell 9.9% from March 2015 to a notional value of $4.64 trillion, as well as dropping year-on-year from $4.79 trillion.
“Consistent with the overall decline in activity in the FX market during April, average daily input volumes in CLS decreased by 10.6% while daily input values dropped by 9.9% month on month,” says CLS CEO, David Puth.
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