CLS Bank International set a new record for the value of payment instructions settled in one day on 20 June.
The bank settled 604,860 payment instructions with a gross value of $7.28 trillion (previous record was $6.62 trillion). That is the first time the value of payment instructions settled has exceeded $7 trillion in one day.
CLS Bank is currently settling an average of 346,106 payment instructions a day derived from foreign exchange deals submitted by its members and their third party clients, with a gross value in excess of $3.9 trillion. Participation in CLS continues to grow, with the milestone of 1,000 participants achieved in recent months. There are currently 1,355 banks, brokers, fund accounts and corporates using the CLS Bank service.
“This latest quarter day’ has seen CLS exceed the previous record value by 10 percent,” says Rob Close, CEO of CLS Group and president and CEO of CLS Bank. “We continue to see a strong growth in participation with an expanding community of users benefiting from the business opportunities and the cost and process efficiencies that CLS Settlement provides.”