CLS FX Settlement: Value of transactions up 1.4% in Dec 15, end year at lowest levels since Aug 13


The CLS FX settlement system has reported a slight increase of +1.4% in the ADV of FX trades settled through their platform in Dec 15, taking volumes back up to $4.47trillion/day (up from $4.41trillion/day in Nov 15). This is the lowest on the platform since Aug 2013.

In terms of number of transactions settled, these were almost unchanged at 961,698 in Dec 15, although they are now at their lowest level since Jul 14.

Details from the platform and charts are as follows:

CLS value of instructions submitted: $4.47 trillion/day in Dec 15, up +1.4% on the $4.41 trillion/day in Nov 15, although down -8.2% compared to Dec 14.

CLS number of instructions submitted: 961,698/day in Dec 15, down -0.3% on the 964,810 in Nov 15, and down -21.4% on Dec 14 level of 1,223,109.

Average Trade size: $4.65mln in Dec 15, up +1.7% on the $4.57mln in Nov 15 and up +16.7% compared to the $3.98mln in Dec 14.

CLS Clearing charts Dec 15

CLS Data: Value and number of transactions submitted to CLS in Dec 2015

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.

 

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