Late last month, CLS Bank published December and 2014 full-year volume numbers for trades submitted for settlement and aggregation using its service. For December, 1,223,109 daily trades were submitted for settlement for an average daily volume of $4.87 trillion.
In January 2015, the average daily input volume submitted to CLS, which consolidated both the settlement and aggregation services, yielded 1,419,369 – up 16% month-over-month from 1,223,109 in December 2014.
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Furthermore, the average daily input value submitted to CLS was $5.31 trillion, corresponding to a growth of 9% month-over-month from $4.87 trillion in December 2014.
According to David Puth, CEO of CLS, in a recent statement on the figures, “Currency trading activity increased markedly during the first month of the year. The SNB’s decision to remove a currency ceiling against the euro, and subsequent trading activity, was a primary factor behind the 16% rise in average daily volume submitted to CLS.
“CLS also experienced a record settlement volume day last month. Following the SNB’s decision, CLS settled a record 2.26 million transactions on 20 January, totalling USD9.2 trillion – with 99.5% of those transactions settled within 45 minutes.
“Given the divergent monetary policies that exist in many major and emerging economies, we expect continued volatility and increased activity in currency markets in 2015.”