Annual Report 2025
2025 was marked by persistent geopolitical uncertainty, record volatility in global financial markets and the extraordinary pace of technological evolution. Together, these dynamics present both risks and opportunities across the financial system.
8.11
USD trillion
Daily average settled value
36.2
GBP million
Profits from operations
378.0
GBP million
Total equity at year end
Resilience
The FX market demonstrated resilience in 2025, reinforcing the critical role CLS plays in supporting the stability and efficiency of the FX market.
Throughout the year, we strengthened resilience, modernized our technology estate and enhanced operational efficiency for our members. We advanced our technology capabilities, refined operational processes, strengthened risk and controls and invested in operational resilience to reinforce the reliability and operational robustness our members depend on.
370.1
GBP million
Revenue for the year
311.7
GBP million
Capital resources
45.5
GBP million
Profit before tax
Our people
Our people are fundamental to our success. Our employees join us not simply to work in financial services, but because they believe in the mission: making global FX markets safer, more resilient and more transparent. Their work underpins trust in the system.
In 2025, we continued to strategically grow our workforce, strengthening our ability not only to operate our services but to evolve them. I am especially proud that, for the third year running, CLS was recognized in the Sunday Times Best Places to Work awards.
Previous annual reports
Financials
Financials
CLS Financial Report 2023
Financials
CLS Financial Report 2022
Financials