CLS Group Reports October 2015 Settlement as Volumes Tick Lower

CLS Group, a comprehensive provider of risk mitigation and operational services, has released its volumes and aggregation services data for the month ending October 2015, which witnessed a minor loss from the previous month, according to a CLS statement.

For the month ending October 2015, the average daily input volume submitted to CLS, combining the Settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term and aggregation services, came in at just 1,056,574, down a slight -2.3% MoM from 1,081,045 in September 2015. However, over a yearly timeframe, the volume retreat was exacerbated, having justified a decrease of -27.9% YoY from 1,465,105 in October 2014.

CLS’ October performance follows after a similar decline last month, which saw its settlement and aggregation services plunge by -7.6% MoM.

Moreover, the average daily input value submitted to CLS in October 2015 yielded $4.64 trillion, retreating -3.5% MoM from $4.81 trillion in September 2015, virtually paring last month’s gains. Like its input volumes, CLS saw a similar weakness in October relative to is 2014 equivalent, with a YoY decline of -3.5% from $5.29 trillion in October 2014.

Earlier this month, CLS Group made headlines after it revealed that it started settling payment instructions in the Hungarian forint (HUF) for its service members. The move effectively made the forint the eighteenth currency eligible for settlement on its system.