CLS hits $5 trillion daily value high
22 June 2006 | 1795 views | 0
Source: CLS Bank
Today, CLS Bank International (CLS Bank) set a new record for the value of payment instructions settled in one day. CLS Bank settled 381,872 payment instructions with a gross value of US$ 5.35 trillion. This new record is the first time that the value of payment instructions settled has exceeded US$ 5 trillion in one day.
In May CLS Bank also achieved a new record for the daily volume of instructions. It settled an average of 291,087 payment instructions a day derived from foreign exchange deals submitted by its Members and their third party clients, with a gross value in excess of US$ 2.7 trillion.
Rob Close, Chief Executive Officer of CLS Group and President and CEO of CLS Bank said: "This latest record represents a 15% increase over the previous record value and follows the record daily volume 500,000 milestone earlier this year. With over 780 banks, brokers, funds and corporates now settling through CLS Bank, participation continues to grow strongly, reaffirming CLS Settlement as the market standard. With planned enhancements to CLS Settlement arriving next year, we are on track to deliver our aim of greater value and lower cost to all our participants."