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.

First Published by e-Forex News: July, 2004

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 Banks Members and, for the first time, 36 customers of Members (third parties).<br><br>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 Butterfield<br><br>EVP 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.