CLS Group, a provider of risk mitigation and settlement services for the FX market, has released its newest product, aimed at enhancing the accuracy of foreign exchange market predictors.
The product will focus on offering clients a forecast data report, inducing a forward-looking view of the FX market and its trends, patterns, and behaviors.
Subscribers of the new product will receive the report on an hourly basis, thereby enabling the fast reactionary response capabilities, that befit the dynamic and fast-changing market conditions associated with the FX market.
The product is inclusive of data regarding market price movements, liquidity levels, and trading volume, providing a comprehensive overview and outlook for the market.
With regard to its application, the data will cover the market behavior of eight currency pairs, namely EURUSD, GBPUSD, USDJPY, AUDUSD, USDCHF, USDCAD, EURGBP, and EURJPY.
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CLS’ new forecast data product also considers the effects of past and future economic data and events, which are incorporated into the predictive model of the product.
CLS’ Chief Strategy and Development Officer, Alan Marquard addressed the company’s most recent innovation. “Incorporating our forecast data into trading strategies can provide institutions with a better view of trading capacity, enabling them to optimize and time their trades. It also helps risk teams to more accurately adjust their models to the changing market. Ultimately, this will lead to a safer and more profitable foreign exchange market.”
CLS has been actively pursuing new avenues for their product offerings. In conjunction with such efforts, the company hired several key members to its team earlier this year, including Angus Scott as its new Head of Product.
In October of last year, CLS partnered with Quandl, which provides a data platform for economic and financial data. On CLS’ end, the partnership was created for the purpose of enabling accessibility to CLS’ near real-time FX volume, pricing, and order flow data reports directly on its platform.
As one of the underlying services offered by CLS is its settlement capabilities, the company has also shows its commitment to improving its bread and butter. In an agreement that was reached in December 2017, CLS added Absa Bank as its Newest Settlement Member.
The move not only broadened its settlement network to 67 members, it also expanded the company’s global geographical reach to South Africa. CLS’ settlement network is active in some capacity across Asia-Pacific (APAC), Europe, Middle East, Africa (EMEA) regions, and the Americas.