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CLS Bank settles new record volume and value

15 November 2004  |  1354 views  |  0 Source: CLS Bank

Today, CLS Bank International (CLS Bank) set a new record for the volume and value of payment instructions settled in one day. CLS Bank settled 356,108 payment instructions with a gross value of US$ 2.885 trillion. This new record, due to the US public holiday on Thursday 11th, is the first time that the number of instructions settled has exceeded 300,000 in one day, and is a significant increase on the previous record of 262,756.

On a normal settlement day CLS Bank is now settling on average over 160,000 payment instructions derived from foreign exchange deals submitted by its Members, with a gross value in excess of US$ 1.6 trillion.

CLS eliminates settlement risk through the world's first simultaneous and irrevocable global multi-currency settlement system. Two hundred and thirty-three institutions are now settling through CLS Bank. Of these, 55 are CLS Bank Members, and an additional 178 banks, brokers, funds and corporates are using the CLS Bank service as Member customers ("third parties").

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