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Foreign Exchange

FX news: CLS thanks holiday for giving record day

CLS set a new volume record day Friday 26 November, owing to the Thanksgiving public holiday on Thursday.

It settled a new record of 1,936,790 sides in one day, which smashes the previous record of 1,784,132 settled on November 12.

This new record reflects two days’ worth of trades being settled on one day. Even so, November has been a voluminous month in its own right.

Alan Bozian, CEO of CLS, says: “This record follows an increase in trading volumes since the beginning of the month and the US public holiday last week. The total value settled was $7,257 billion and CLS Bank was able to settle this with a total pay-in requirement of $40 billion, representing a net funding percentage of 0.55%.”

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