CLS Ventures Further into FX Forwards, Launches Volume Dataset

CLS, a leading provider of risk mitigation and settlement services for foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) dealers and institutions, announced this Thursday that it would be releasing an FX Forward Volume dataset as part of its suite of executed trade data products.

Today’s announcement is the first data product provided by CLS for the forex forward market. Historically, the company has only provided data products for the forex spot market.

The FX Forward dataset will have outright forwards and swaps. According to the statement, these instruments provide an aggregated view of the forward market and confirm price models for forwards and swaps.

Commenting on the announcement, Masami Johnstone, Head of Information Services, CLS said: “With access to more than 50% of global FX traded volumes in the market, CLS processes over 500,000 transactions daily worth USD1.55 trillion. We are uniquely placed to provide FX forwards data providing deep tenor granularity with precise forward and broken dates to market participants.”

CLS Forward dataset includes 33 currencies

The dataset will provide insights into the forex forward market for 33 major currency pairs. In particular, CLS FX Forward Volume datasets can assist users to develop new Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term and provide an opportunity to streamline their FX trading strategies.

“The fragmented nature of the FX market means there is a lack of visibility of the total volume across all venues. This dataset will enable the industry to better understand market dynamics based on aggregated volume data, particularly, to confirm pricing models, develop analytics for performance evaluation and further support trading models for the forward market,” continued Johnstone.

The settlement service provider offers this through CLSMarketData, which gives market participants access to anonymized, aggregated, and executed trade data sourced directly from market transactions.

In total, CLS processes transactions from more than 70 settlement members. This includes asset managers, and major global, regional, and custodial banks.