CLS Ventures Further into FX Forwards, Launches Volume Dataset

Historically, the company has only provided data products for the FX spot market.

CLS, a leading provider of risk mitigation and settlement services for foreign exchange (forex) 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.

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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.”

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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 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.

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