CLS Bank has a positive swing in August in the back of intense market volatility in safe haven currencies.
Figures reported for July showed a downfall of 2% however July is typically recognised as a month where most traders are on vacation.
The average volume of daily foreign exchange payment instructions rose by 8 percent in August from the previous month, while the average value settled in the month dipped slightly, FX settlement system CLS Bank said on Tuesday.
The average daily volume of payment instructions rose to 869,542 from 801,815 in July. Average daily values settled last month edged lower to $4.84 trillion from $4.87 trillion, but still showed a year-on-year increase of 23 percent, CLS said.
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Daily values settled remained below the $5.12 trillion hit in June this year when the figure crossed the $5 trillion mark for the first time.
The CLS Aggregation Service aggregated a daily average of 237,683 instructions in August, up 13 percent on the 209,129 instructions in July.
Total volumes submitted to CLS, combining the Settlement and Aggregation Services, were 1,095,739, up just under 10 percent from the previous month.
CLS should is preparing for competition by LCH Clearnet, the London based clearer is preparing its FX products which are expected to be rolled out later this year.