CLS settles record volumes in August
On August 20, payment instructions settled from FX deals submitted by CLS Bank members and their third-party clients reached a record of 873,430.
This represented a gross value of $4.9 trillion and surpassed the bank's previous record of 705,582, which was set on June 20.
Forex payment instructions reached a daily average of 480,000 in August, jumping about 35% from July and representing a gross value of $3.9 trillion.
Rob Close, president and chief executive of CLS Bank in New York, said:
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