Tag: CLS


CLS FX Volumes Up in February

The average daily volume submitted to CLS in February was $1.81 trillion, a 2.2% rise from January and 5% up from February 2019. Reflecting events at FX platforms that reported data at the start of the month, the growth was exclusively in spot markets with CLS handling $500 billion, up from $401 billion in January […]

CLS Veteran Leaves

Robert Franolic has left CLS after 19 years at the firm. Most recently Franolic was data officer for CLS, having stepped up from head of data and analytics. Prior to that he was managing director and head of CLS’ Quantitative Analytics Group, he has also had roles as head of information analysis and modelling and […]

CLS Reports Uptick in January ADV, Down YoY

The average daily traded volume submitted to CLS was $1.77 trillion, up 10.8% from the $1.60 trillion recorded in December 2019. However, CLS reports a slight 1% year-on-year decline in ADV compared to the $1.77 trillion submitted in January 2019. CLS’s head of information services, Masami Johnstone, says: “We saw average daily traded volumes in January […]

CLSSettlement Adds First Philippine Third-Party Bank

CLS, a market infrastructure delivering settlement, processing and data solutions, announced that Metrobank is the first Philippine bank to access CLSSettlement as a third-party participant. UBS, a CLSSettlement member, will provide access to Metrobank. The addition of Metrobank, one of the largest banks in the Philippines, is testament to the significant increase in third-party participation […]

Four Firms Join CLS’ DLT Service

CLS says that Actinver, BNP Paribas, Citibank and JP Morgan are live on CLSNet, the utility’s standardised, automated bilateral payment netting calculation service for over 120 currencies operating on a distributed ledger technology (DLT) platform. This means there are now nine market participants live on CLSNet, including Bank of America, Bank of China (Hong Kong), Goldman Sachs, Intesa Sanpaolo […]

CLS Volumes Decline Marginally in December

The average daily volume (ADV) of trades submitted to CLS was $1.6 trillion in December, down 0.5% month-on-month, but up 2.8% year-on-year. Swaps trades accounted for $1.1 trillion of this total ADV last month, down 8.3% from the $1.2 trillion recorded in November 2019, but up 4.6% compared to December 2018. The total ADV of […]

TriOptima Sees 71% Increase in FX Forwards Compression

TriOptima saw a 71% increase in the gross notional value of FX forward contracts going into the triReduce CLS FX compression service last year. This means that $9.1 trillion was eliminated from counterparties’ FX forward portfolios in 2019, a new record for the service. In Q4 alone it compressed $4.9 trillion of gross notional value, […]

CLS Data Confirms November Slowdown

The average daily volume (ADV) of FX trades submitted to CLS in November was $1.61 trillion, down 10% compared to October and down 4.2% year-on-year. The ADV of swaps submitted to CLS last month was $1.17 trillion, down 8.2% compared to October, but up 3.9% from November 2018. Spot ADV was $366 billion in November, […]

In the FICC of It

There is plenty for Colin Lambert and Galen Stops to get their teeth into this week as the BIS released a series of papers studying the data in the Triennial FX Turnover Survey. From working out who the mysterious “others” were in the survey, through some initially confusing execution data, to a signalling of the […]

FX Settlement Risk Has Increased; Exposures Down: BIS

FX settlement risk has increased since 2013 according to the Bank for International Settlements (BIS), both in relative and absolute terms, however the gross market value of outstanding FX and OTC derivatives has fallen, thanks largely to the growth in clearing. An article in the bank’s latest Quarterly Review says that in spite of “significant […]