The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

CLS: Settle down now

I had a great chat this week with Rob Close and Jonathan Butterfield from CLS. I have been critical in the past of the organization, accusing it of opacity; so it is great to report that CLS seems to have really opened up.

Obviously it has to respect certain confidences but its willingness to talk and answer questions is perhaps a reflection of confidence as it approaches its fifth anniversary of operations. 

Not surprisingly, given its important role at the back end of the market, CLS has also seen record levels of activity. Now, as I’ve said before, I am at heart just a simple spot trader and I must confess that I was never that good at adding up. Even in the old days of ticket writing, I left the position-keeping to my scribes while I bought and sold like a veritable whirlwind.

Interpreting CLS’s figures can still be a little bit difficult – it’s as if all these back-office blokes want to show the front office just how clever they are now they’ve been allowed out into the daylight. Anyway, I managed to remaster the slide rule I last used back in 1974 when I took my 11+ exam. And I can now report that CLS had record volume submitted to it last Thursday and again last Friday.

 More on CLS

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree