Foreign exchange trading volumes submitted to the CLS Group’s settlement and aggregation service rebounded in August 2014, confirming the broad-based rebound during the second full summer month, leading to the most active trading week in FX this year.
According to data released by the company, Average Daily Volumes (ADV) combining the settlement and aggregation services submitted to CLS in August, totaled 1,035,978, which was higher by 11.9% from July’s 926,174.
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The average daily value submitted to CLS was US$4.90 trillion, up 4.0% when compared to last month, from US$4.71 trillion in July. CLS reports both sides of every FX transaction.
The CLS is at the core of the foreign exchange market. It is owned by the world’s leading global financial institutions and settles payment commands related to 17 major currencies.
It currently operates the largest multi-currency cash settlement system mitigating settlement risks for FX transactions of its members and their customers.