CLS
The average daily volume (ADV) of FX trades submitted to CLS in May was $1.62 trillion, marginally down from the $1.63 trillion it reported in April. The ADV of FX swaps submitted to CLS in May was $1.19 trillion, down 4.14% month-on-month and down 5.3% year-on-year. The ADV of FX forwards trades submitted to CLS […]
CLS has named Marc Bayle de Jessé as its new CEO, effective 2 December. He joins from the European Central Bank (ECB) where he is currently director general, market infrastructure and payments and chair of the Market Infrastructure Board. In his current role, de Jessé is responsible for defining and steering the implementation of policies […]
CLS appointed four new directors to its Board of Directors at its annual general meeting (AGM) on May 7. The new additions to the board are: Vidya Bittianda, general manager for risk analytics and insight at Westpac; Sheryl Kennedy, who until December 2018 was the CEO of Promontory Financial Group Canada; Edward Sterba, senior executive […]
The average daily volume (ADV) of FX trades submitted to CLS in April was $1.63 trillion, down 12.5% from the $1.86 trillion reported in March 2019. This is consistent with previous reports from Profit & Loss showing that the multibank FX trading venues which publicly release their volumes all saw double digit decreases in percentage […]
Angus Scott, head of product at CLS, outlines the industry and regulatory drivers that mean banks have to be able to manage liquidity intraday; as well as the internal and external solutions which can help them to achieve this. Intra-day liquidity – the assets needed to settle the daily obligations that arise between banks, broker […]
The average daily volume (ADV) of FX trades submitted to CLS was $1.86 trillion last month, up 8% compared to February but largely flat compared to March 2018. The ADV of spot trades submitted to CLS was $439 billion, up 9.2% month-on-month and but down 8.5% year-on-year. The ADV of swaps was $1.31 trillion, up […]
The three primary FX venues to report average daily volume (ADV) data have reinforced data from a second group that activity in the market was low in February.
Refinitv says it handled $87 billion in spot ADV in February, down 8.4% from January and down 23% from February 2018, while CME Group says both its futures and EBS businesses saw similar declines.
CME Group reports ADV in futures and options contracts of 762,000, which Profit & Loss estimates to be notional volume of $75.4 billion. This is a 9.2% drop month-on-month but down 30% year-on-year.
CLS has announced that Nomura Asset Management (NAM) has become the first asset manager headquartered in Japan to provide access to CLSSettlement for Japanese-domiciled funds.NAM is working with three trust banks: the Nomura Trust and Banking Co (NMTB), Japan Trustee Services Bank (JTSB), and the Master Trust Bank of Japan (MTBJ), to offer CLSSettlement to a total of 21 investment trust funds. NAM and the trust banks are supported by a number of global custodian banks, including Brown Brothers Harriman (BBH) and Citibank for NMTB, and with Sumitomo Mitsui Trust Bank (USA) for JTSB, and BBH for MTBJ.
The total average daily volume (ADV) of FX trading across Refinitiv platforms in January 2019 totaled $446 billion.
This total, which reflects trading volumes on Refinitiv Matching and FXall in all transaction types, including spot, forwards, swaps, options and non-deliverable forwards (NDFs), represents a 3.2% year-on-year increase and a 12.6% month-on-month increase.
The ADV of spot trading on the Refinitv platforms was $95 billion, actually a 12% decrease compared to January 2018 and a 5.5% increase compared to the previous months. But in non-spot products the ADV was $351 billion, up 8.3% and 15.5% year-on-year and month-on-month, respectively.
CLS says it handled settlement instructions to the notional value of $1.68 trillion in November, up very slightly from the $1.677 trillion in November 2017 and down from $1.71 trillion in October. This represents a 1.7% drop on a month-on-month basis and is largely in line with data reported earlier by various FX platforms.
Activity in outright forwards was actually up at $97 billion in November, this is a healthy 24.4% increase from October and 9% up year-on-year. Elsewhere, FX swap activity was $1.128 trillion, down 2.8% month-on-month and down 1.8% year-on-year’ and spot volumes were $455 billion, down 3.4% from October, but up 3.6% year-on-year.
