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CLS Bank settles new record value

19 March 2008

Today, CLS Bank International (CLS Bank) set a new record for the value of payment instructions settled in one day. CLS Bank settled 1,113,464 payment instructions with a gross value of US$ 10.3 trillion (previous record US$ 8.75 trillion). This is the first time that the value of payment instructions settled in one day has exceeded US$ 10 trillion.

To date in March CLS Bank is settling an average daily volume of over 600,000 instructions with a gross value of $5.3 trillion. CLS participation has continued to grow strongly, with the milestone of 2,000 third parties being achieved in October 2007. There are currently 2,411 banks, brokers, fund accounts and corporates using the CLS Bank service.

Rob Close, Chief Executive Officer of CLS Group and President and CEO of CLS Bank said: “This latest quarterly settlement date allied with current FX market volatility has ensured we break the previous record for value settled in one day by over $1 trillion. The fact that such a significant value of transactions has been settled reaffirms the value of the safe, secure, risk-free FX settlement offered by CLS Bank.”