CLS saw a 2.5 percent increase of average daily settlement volume through its new FX settlement service (CLSSettlement) for 2018, compared to 2017.
More than 90 percent of this growth came from the buy-side, and the average daily gross volume settled by the buy-side was up by 18 percent from 2017.
CLS also found the new business growth, together with additional volume as a result of increased volatility in the FX market, has contributed to a 12 percent increase overall in average daily gross volume in 2018 compared to 2017.
Joe Ziccarelli, head of sales at CLS, said: “A key part of CLS's growth strategy has been to be more actively engaged with the buy-side to help drive wider participation in CLSSettlement. Our latest growth figures prove this strategy is working.”
He added: “We hope to further build our buy-side community with the recent launches of solutions to improve post-trade processing, such as CLSNet and CLSTradeMonitor. These solutions allow buy-side participants to access CLS directly in order to benefit from operational process efficiencies and risk mitigation.”
