CLS FX Dec14: Vols down -6% to $4,870bln/day

The CLS settlement system has reported a -6% end of year drop in the average daily value of FX trades settled through their platform in Dec 2014, and some -18% lower from the record $5,940bln/day set in Sept 14.

The monthly drop is roughly half the average fall seem in the major platforms that reported last week, which saw falls ranging from 11-15%.

Details from the platform and charts are as follows:

CLS value of instructions submitted: $4,870bln/day, down -6% on the $5,170bln/day in Nov 14, and unchanged compared to Dec 13.

CLS number of instructions submitted: 1,223,109, was down -12% on 1,385,840 in Nov14, although still +23.7% up on Dec 2013 level of 988,674.

Average Trade size: $3.92mln was up 7% on the $3.73mln in Nov 14 and down -19.2% compared to the $4.93mln in Dec 2013.

Note: 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.

CLS Dec 2014

CLS - charts Dec 2014

CLS Data: Value and number of transactions submitted to CLS in Dec 2014

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