US holiday helps set record volumes on CLS and CME

CLS Bank International, through which CLS settles FX trades, set a new volume record of 262,756 payment instructions with a gross value of $2.175 trillion, in what marks the settlement service’s first breach of the $2 trillion a day mark.

Compared to the previous record set on November 28 after the Thanksgiving holiday, the new record represents a 31% increase in volume and a 22% increase in gross value, CLS said.

Roughly one tenth of the volume settled on January 20 represented third-party