As the leading financial market infrastructure for the FX market, CLS welcomes the latest BIS Triennial Central Bank Survey of Foreign Exchange and Over-the-counter (OTC) Derivatives Markets (BIS Survey).

In line with the reported overall volume growth in the FX market, CLS has seen an increase in the volume of FX transactions settled in our payment-versus-payment settlement system, CLSSettlement.

Thanks to our position at the center of the FX ecosystem, we hold the largest single source of FX data available to the market. We are confident that this data, combined with our own independent analysis of trading and settlement activity conducted in collaboration with settlement members and the latest results of the BIS Survey, will yield further insights. CLS plans to share such insights into market behavior and settlement practices with both the public and private sector in due course.