CLS settled volumes continue upward trajectory in March

Spot, forwards and swap volumes inched up compared with February

Number crunching: in January, CLS adopted a new method of calculating the FX volumes it settles

Total foreign exchange volumes settled by CLS continued their upward trend in March, rising to $1.6 trillion – a growth of 6.7% from the previous month and up 9.6% from March 2016 – with each instrument settled by the utility registering month-on-month growth.

CLS changed its reporting methodology in January, switching to a single-count basis. Previously, it reported the number of payment instructions or settlement input volumes it received on a given day for future settlement by including both