CLS 2013 Average Daily FX Volume of $5 Trillion, and 800K average daily instructions indicates average instruction value of $6.25 Million, from among 63 settlement members. Revenue up by £13.6M from £159.3M in 2012.
Foreign Exchange Settlement risk mitigation service provider CLS, operated by CLS Group Holdings AG, has released its 2013 annual report, according to a publication on its corporate website dated May 13, 2014, showing revenues rising to GBP 179 million and up 9% year-over-year.
The total revenue for 2013 was further detailed in the report as £172.9M for 2013, up by £13.6M or 8.5% from £159.3M year-over-year (YoY), and as can be seen in the results' summary excerpt further below.
The data was released following the Annual General Meeting and Shareholder Briefing that CLS held at the end of last month, and included its consolidated accounts and activity for 2013, which showed that on average CLS settled $5 Trillion worth of FX transactions daily, from among its 63 settlement members and across 17 different currencies, including its most recent involving the Canadian dollar – in the USD/CAD pair - which was launched in 2013.
Financial Highlights from the Report Included:
Revenues increased to GBP179 million, up 9% from 2012
Year-on-year volume growth of 16%. Year-on-year value growth of 7%
Return on average equity for the period was 7% and included the impact of the capital raise, compared to 16% in 2012
On a pre-tax pro-forma basis, adjusting for the capital raise impact, return on equity was 9% in 2013, compared to 7% in 2012
The company said it has improved its financial position, including the raise of capital that Forex Magnates wrote about in Q4, which CLS said was a “key element” of its 2013 success, and added that it had a strong year for its business performance, with foreign exchange average daily volumes reaching peak levels, higher than at any point during its 11-year history. This occurred as FX volumes had broadly peaked to all-time highs in April 2013, according to the latest triennial survey conducted by the Bank for International Settlements (BIS).
Outgoing CLS Chairman Gerard Hartsink, soon to be succeeded by CLS’ Ken Harvey, said in a letter to shareholders, included in the 2013 annual report, "Foreign exchange is a remarkable and unique market. It remains the most global and liquid asset class, with its efficiency as a market derived from its core role in facilitating cross-border trade and investment.
CLS continues to perform a central role at the very heart of this eco-system, providing an orderly and effective risk mitigation service to FX market participants across the globe. It also remains an example of how financial market participants have cooperated to mitigate settlement risk in the FX market. This market is evolving constantly, with new participants and currencies coming to the fore, yet there remains one constant: Settlement risk remains the most significant risk faced by the industry and CLS continues to mitigate that risk, delivering stability and security."
The news follows just a few days after Forex Magnates covered CLS's March volumes - which showed that the group wrapped up a positive quarter amid challenging market conditions.
Foreign Exchange Settlement risk mitigation service provider CLS, operated by CLS Group Holdings AG, has released its 2013 annual report, according to a publication on its corporate website dated May 13, 2014, showing revenues rising to GBP 179 million and up 9% year-over-year.
The total revenue for 2013 was further detailed in the report as £172.9M for 2013, up by £13.6M or 8.5% from £159.3M year-over-year (YoY), and as can be seen in the results' summary excerpt further below.
The data was released following the Annual General Meeting and Shareholder Briefing that CLS held at the end of last month, and included its consolidated accounts and activity for 2013, which showed that on average CLS settled $5 Trillion worth of FX transactions daily, from among its 63 settlement members and across 17 different currencies, including its most recent involving the Canadian dollar – in the USD/CAD pair - which was launched in 2013.
Financial Highlights from the Report Included:
Revenues increased to GBP179 million, up 9% from 2012
Year-on-year volume growth of 16%. Year-on-year value growth of 7%
Return on average equity for the period was 7% and included the impact of the capital raise, compared to 16% in 2012
On a pre-tax pro-forma basis, adjusting for the capital raise impact, return on equity was 9% in 2013, compared to 7% in 2012
The company said it has improved its financial position, including the raise of capital that Forex Magnates wrote about in Q4, which CLS said was a “key element” of its 2013 success, and added that it had a strong year for its business performance, with foreign exchange average daily volumes reaching peak levels, higher than at any point during its 11-year history. This occurred as FX volumes had broadly peaked to all-time highs in April 2013, according to the latest triennial survey conducted by the Bank for International Settlements (BIS).
Outgoing CLS Chairman Gerard Hartsink, soon to be succeeded by CLS’ Ken Harvey, said in a letter to shareholders, included in the 2013 annual report, "Foreign exchange is a remarkable and unique market. It remains the most global and liquid asset class, with its efficiency as a market derived from its core role in facilitating cross-border trade and investment.
CLS continues to perform a central role at the very heart of this eco-system, providing an orderly and effective risk mitigation service to FX market participants across the globe. It also remains an example of how financial market participants have cooperated to mitigate settlement risk in the FX market. This market is evolving constantly, with new participants and currencies coming to the fore, yet there remains one constant: Settlement risk remains the most significant risk faced by the industry and CLS continues to mitigate that risk, delivering stability and security."
The news follows just a few days after Forex Magnates covered CLS's March volumes - which showed that the group wrapped up a positive quarter amid challenging market conditions.
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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