FX clearing house CLS has today announced its monthly metrics for August 2014, stating that the average daily volume submitted to CLS, combining the settlement and aggregation services, was 1,035,978, a figure which represents an increase of 11.9% from 926,174 in July, which was a month in which the company experienced a downturn in volumes compared to a buoyant June.
The average daily value submitted to CLS during August was US$4.90 trillion up 4.0% from US$4.71 trillion in July.
These figures depict a positive perspective for companies involved in settlement of FX risk in Western markets, at a time when order flow in general is at a substantially lower rate than the heights of 2013, and Asian nations such as Hong Kong and Singapore continue to increase their presence as FX settlement centers.
To view the full announcement, click here.