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CLSNet growth Q3 2023
The average daily netted value in CLSNet increased by 12 percent in the third quarter of 2023, compared with the same quarter in 2022.
Deutsche Bank went live on CLSNet. With the addition of Deutsche Bank, the CLSNet community now includes eight of the top 12 global banks.
Lisa Danino-Lewis, Chief Growth Officer, CLS, commented, “We are delighted to announce that Deutsche Bank has gone live on CLSNet. With our network expanding globally, participants are experiencing significant improvements in liquidity optimization, operational efficiencies and risk mitigation. CLSNet is directly accessible to most market participants, ensuring that the benefits of the service are widely available to the FX industry.”
David Gary, Head of FX Trading North America, Deutsche Bank, was quoted as saying: “Joining CLSNet is a logical progression in our continued growth strategy and commitment to promoting the effective functioning of the wholesale FX market. This move offers us not only the advantages of liquidity optimization and risk mitigation, but also the added benefit of streamlined post-trade matching and netting processes, making our operations even more efficient.”