CLS FX Settlement Jan 16: value of transactions up 8.3% to $4.84trillion/day in Jan 16 (highest level since Jun 15)


The CLS FX settlement system has reported a healthy +8.3% increase in the ADV of FX trades settled through their platform in Jan 16, taking volumes back up to $4.84trillion/day (up from $4.47trillion/day in Dec 15). This is the highest level since Jun 15, although still down -8.9% on Jan 15.

In terms of number of transactions settled, these showed a strong gain, up +30% to 1,249,226 in Jan 16, although still down –12%  on Jan 15 level of 1,419,369.

Details from the platform and charts are as follows:

CLS value of instructions submitted: $4.84 trillion/day in Jan 16, up +8.3% on the $4.47 trillion/day in Dec 15, although down -8.9% compared to Jan 15 level of $5.31trillion/day.

CLS number of instructions submitted: 1,249,226/day in Jan 16, down +30% on the 961,698 in Dec 15, and down -12% on Jan 15 level of 1,419,369.

Average Trade size: $3.87mln in Jan 16, down -16.6% on the $4.65mln in Dec 15, although up +3.6% compared to $3.74mln in Jan 15.

CLS Clearing charts Jan 16

CLS Data: Value and number of transactions submitted to CLS in Jan 2016

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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