SNB pushes CLS volumes to record high and platforms benefit
Major FX platforms report uptick post-SNB
Foreign exchange settlement infrastructure provider CLS had a record day on January 20, with volumes hitting $9.2 trillion, distributed across 2.26 million transactions, just five days after the Swiss National Bank (SNB) caused a 30% move in EUR/CHF.
CLS was unable to say whether the number of instructions or settled volumes was affected by some large banks repricing EUR/CHF trades retroactively in the wake of the SNB move on January 15.
"Currency trading activity increased markedly during the
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