SingleDealerPlatforms.Org

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 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.

Filed under: FX, Paul Blank, Survey Results | Leave a comment »

The top-tier FX platforms have now released their Dec 15 FX vols.

In terms of Spot FX vols, Reuters and EBS are barely changed, with Reuters +1.1% at $91bn/day, whilst EBS -0.9% at $74.8bn/day. However, in terms of other products, Reuters showed an +8.8% rise in other product vols, including NDFs and swaps (on their SEF) to $246bn/day.

However, The CME Group, had a great end of year, with a strong +24.1% gain in all FX product vols in Dec to stand at $110.6bn/day ($89bn/day in Nov 15). Although given that it’s Dec, we can’t really read too much into year-end figures.

Table showing Top Tier platforms: Reuters, EBS and CME Futures vols for Dec 2015

If we look closer at Continue reading →

Filed under: FX, Paul Blank, Survey Results | Leave a comment »

According to SWIFT’s RMB Tracker, the Chinese Yuan has entered the top four of world payment currencies by value in August 2015, overtaking the Japanese Yen and reaching a record high share of 2.79% in global payments.

In the last three years, the Renminbi RMB has overtaken seven currencies rising from position number 12 with a share of 0.84% in August 2012. The currency has also further established itself as the dominant currency for trade finance behind the USD.

Rise of the Chinese Renminbi as payment currency

The latest SWIFT RMB Tracker report shows that the Renminbi is now: Continue reading →

Filed under: FX, Paul Blank, Survey Results | 2 Comments »

Here is a summary from the Coalition research report on Global & Regional Investment Bank League Tables for 1st half 2015.

• JPMorgan continued to lead the global Investment Bank rankings with $13.2bn revenues, up $1.7bn YoY. Goldman Sachs remained second, followed by Deutsche and Citi ranked as equal third.
• Banks with strong Macro Fixed income franchises outperformed those who are more dependent on Credit-related activities. JPMorgan retained FICC global leadership, followed by Citi and Deutsche Bank
• Strong Prime Brokerage and Derivative houses (Morgan Stanley, Goldman Sachs, and JPMorgan) maintained their global Equities leadership
• Goldman Sachs and JPMorgan continue to lead Origination, with M&A outperforming ECM and DCM
• US Banks’ global strength is reflected in regional performance. Whereas rankings in APAC and EMEA were led by Deutsche Bank, Americans took three of the top five rankings in these regions and all top five rankings in their home region

Below are tables showing ranking, and link to how to request the report.

Continue reading →

Filed under: FX, Paul Blank, Survey Results | Leave a comment »