This adjustment, set to take effect on May 28, contrasts with the T+2 cycle common in most other parts of the world. It will prompt industry participants to revisit their operational strategies to mitigate transaction failures and elevated trading costs. Ben Springett from Jefferies highlighted that adapting to this new cycle could necessitate higher cash…
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The Group’s forex market offering is split into three main categories: forward, swap and spot. According to the official announcement, the demand in all three has increased in September. FX swaps was the instrument with the most absolute trading volume, generating an ADV of $1.36 trillion for the period, rising 10.7% from previous month’s 1.23…
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CLS offers forex products divided into forward, swap and spot. The ADV of FX forwards went slightly down in October. It stood a $102 billion last month, slightly lower that the $114, seen in September 2021 and the $ 117 CLS registered in October 2020. FX swaps ADV reached $1.319 trillion last month, 10% up…
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The Group also reported a 4% YoY rise FX forward and 2% YoY increase in FX swap with $79 billion and $1.2 trillion for August 2021, respectively. FX spot volumes were down 5% on yearly basis, accounting for $0.36 trillion. On monthly basis, FX forward was down 5.9%, FX swaps by 0.6% and FX spot…
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The cross-currency swaps service is an extension of CLS’s PvP settlement service. It also uses the MarkitSERV trade confirmation platform to enable members of CLSSettlement to send their cross-currency swaps for settlement. The cross-currency swap flows are multilaterally netted against all other FX transactions in CLSSettlement, which results in a meaningful reduction in daily funding…
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Currently, Shuta Okawara works as Managing Director and Head of the Transactions Services Division of MUFG Bank. His career has been mainly focused on extensively around custody and clearing. Okawara has been engaged with most settlement systems reform initiatives that have led to mitigating settlement risks and standardizing securities and currencies settlement processes as we…
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The forward and spot FX market saw 2% increase in volumes, reaching $0.117 trillion and $0.483, respectively. The numbers in these sections of the market remained lower compared to the ones reported during the same period in 2020. CLS’s Global Head of Product, Keith Tippell, commented: In the first quarter of 2021, we witnessed record…
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In January 2021, the average daily traded volume submitted to CLS was $1.92 trillion, rising 9% month-over-month from $1.76 trillion in December 2020. Worked out across a yearly timetable, the figure can be seen to be up 8.5% relative to January 2020’s figure of $1.77 trillion. According to CLS’s Head of Information Services, Masami Johnstone,…
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Further to this, Alfa-Bank and FAB are the first in their respective domiciles of Russia and the UAE to join CLSNet. This highlights the growing capabilities of CLSNet to include a broader segment of the global FX market community. Keith Tippell, Global Head of Product, CLS, commented: The addition of these emerging market leaders demonstrates…
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Bitcoin broke records yesterday by soaring through its previous all-time high, up more than 15% in the past 24 hours. At the time of writing yesterday, bitcoin was trading around $22,838 – well above any previous high achieved by the cryptoasset. In its wake other peers such as ethereum are also soaring. ETH has hit a…
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