CLS volume predicted to increase by up to 90%

New research from TowerGroup predicts that CLS Bank International (“CLS Bank”) will be settling up to 90% more instructions a day by the end of 2005. TowerGroup independently conducted this research for a second consecutive year amongst 41 of CLS Bank’s Members and, for the first time, 36 customers of Members (“third parties”).The study also predicted that the volume of third party instructions would increase by a factor of five by the end of 2006. Usage of CLS Bank by current users is also set to rise, with the proportion of current Member respondents settling over 50% of their daily value through CLS Bank rising from 60% now to 89% by the end of 2005. Jonathan ButterfieldEVP of Marketing and Communication, CLS Bank International, said: “Once connected to CLS, third parties quickly realise many benefits. The anticipated volume growth provides the best foundation for delivering further cost benefits.”...continued