One of the key settlement-risk mitigation providers for a significant portion of all for Foreign Exchange originated by its members, reports January's ADV higher by $420 bln Month-over-Month, and up $100 bln Year-over-Year.
Considering the magnitude typically found within Foreign Exchange volumes, although the $5.29 trillion in January ADV is higher by $100 billion than the $5.19 reported for January 2013, year-over-year (YoY) the change is barely 2% higher, but nonetheless a positive increase reflective of the broader market (if not nearly all of it).
The group is one of the largest providers of settlement risk mitigation services, and in addition to the values released today, CLS Group also provided total average daily volumes (ADV) for its combined settlement and aggregation services which recorded 1,210,588 in January, up 22.4% or 221,914 from 988,674 during the previous month.
January CLS Group Totals [Source: CLS Group]
The volumes are described as the number of instructions received by CLS on a given day for future settlement, although these instructions are not necessarily settled during the month in which they are submitted.
In addition, as previously explained by Forex Magnates, since CLS reports both sides of an FX transaction, to adjust the average daily value data to equate to the same reporting convention used by the Bank for International Settlements and the semi-annual foreign exchange committee market reports, the gross values should be divided by two, (to avoid double-counting).
Considering the magnitude typically found within Foreign Exchange volumes, although the $5.29 trillion in January ADV is higher by $100 billion than the $5.19 reported for January 2013, year-over-year (YoY) the change is barely 2% higher, but nonetheless a positive increase reflective of the broader market (if not nearly all of it).
The group is one of the largest providers of settlement risk mitigation services, and in addition to the values released today, CLS Group also provided total average daily volumes (ADV) for its combined settlement and aggregation services which recorded 1,210,588 in January, up 22.4% or 221,914 from 988,674 during the previous month.
January CLS Group Totals [Source: CLS Group]
The volumes are described as the number of instructions received by CLS on a given day for future settlement, although these instructions are not necessarily settled during the month in which they are submitted.
In addition, as previously explained by Forex Magnates, since CLS reports both sides of an FX transaction, to adjust the average daily value data to equate to the same reporting convention used by the Bank for International Settlements and the semi-annual foreign exchange committee market reports, the gross values should be divided by two, (to avoid double-counting).
![January CLS Group Totals [Source: CLS Group]](https://www.financemagnates.com/wp-content/uploads/fxmag/2014/02/CLSjan2014.jpg)
