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Foreign Exchange

CLS settlement values fall in October

CLS Group, the multi-currency cash settlement system, saw the average daily value of its settlement volumes fall in October, the first drop since February.

The average daily settlement values across all spot, forward and swap transactions were down between 4% and 8% since last month, when the company announced record-high settlement values.


 CLS settlement values

 
 Source: CLS

The fall in settlement values is in line with the overall decline in trading volumes in October, as volatility stabilised from the elevated levels experienced in September. Trading venues Reuters and EBS have announced 12% and 7% declines respectively.


CLS said AUDUSD and USDJPY were the only pairs to show growth in October while EURUSD saw the biggest monthly decline.


However, year on year spot, swap and forward values for the month increased 20%, 5% and 36% respectively compared with October 2010.

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