More NewsResearch Predicts 150 Per Cent Rise In CLS Bank Volume

Research Predicts 150 Per Cent Rise In CLS Bank Volume

The volume of instructions submitted through CLS Bank is predicted to increase 150 per cent by the middle of 2005, according to results of TowerGroup research. The research, conducted amongst 40 of CLS Bank’s Settlement Member banks, representing some of the world’s largest global financial institutions, found that the main motivation for joining CLS Bank was the reduction of settlement risk. Over 95 per cent stated that this was an important or very important reason for their participation. This was followed by the avoidance of regulatory action (88 per cent) and efficiency – to improve STP rates and reduce errors (65 per cent). CLS Bank currently settles on average almost 70,000 payment instructions per day with an average gross value of approximately $US 800 billion, with over $US 50 trillion settled to date. According to the research, it is expected that the total volume will be 100,000 instructions per day by mid-2003 and 150,000 instructions per day by mid-2004 – growing to 176,000 instructions per day by the middle of 2005.

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

3w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

5m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha