CLS Bank today announced that it has successfully settled a new record volume of 1,733,262 sides in one day. This record is substantially above the previous record of 1,544,166 settled on the quarterly International Monetary Market (IMM) date during the week of September 14, 2008, "Lehmans week". Total value settled was $6,181 billion and total net funding was $44.8 billion. Settlement was completed well within the normal operating parameters.
Rob Close, CEO of CLS Group and President and CEO of CLS Bank International, said "This record follows both a surge in trading volumes since the start of the month and the US public holiday yesterday. It is particularly gratifying to see the service's netting efficiency exceed 99%. This liquidity management benefit from CLS settlement is often overlooked but its positive impact is underlined during high value days such as today."