CLS’s existing data products currently address the FX spot market only. FX Forward Volume will be the firm’s first data product for the FX forward market and part of its comprehensive suite of executed trade data products. The challenging regulatory landscape increasingly requires market participants to have an in-depth understanding of market dynamics.
The market infrastructure group delivering settlement, processing and data solutions has launched FX Forward Volume data which focuses on outright forwards and swaps that provide an aggregated view of the forward market, therefore confirming pricing models for forwards and swaps.
CLSMarketData provides access to anonymized, aggregated, and executed trade data sourced directly from market transactions from over 70 settlement members, which include major global, regional, and custodial banks, and over 25,000 of their customers, including asset managers, hedge funds, banks, corporates, governmental entities, and non-bank financial institutions.
The FX Forward Volume data is designed to provide valuable insights into the FX forward market for 33 major currency pairs and assist users to develop new analytics and provide an opportunity to streamline their FX trading strategies.
Masami Johnstone, Head of Information Services at CLS said: “With access to more than 50% of global FX traded volumes in the market, CLS processes over 500,000 transactions daily worth USD1.55 trillion. We are uniquely placed to provide FX forwards data providing deep tenor granularity with precise forward and broken dates to market participants. The fragmented nature of the FX market means there is a lack of visibility of the total volume across all venues. This dataset will enable the industry to better understand market dynamics based on aggregated volume data, particularly, to confirm pricing models, develop analytics for performance evaluation and further support trading models for the forward market.”
Earlier this month, the US-based financial service provider hired Deborah Hrvatin to serve as its Chief Risk Officer. The finance industry veteran with nearly three decades of experience has become part of the firm’s executive management committee and is now responsible for leading the firm’s global risk functions and risk management framework. She is also expected to build an enhanced culture of risk identification and mitigation.
Prior to CLS, Hrvatin has served in a number of firms: Citi Group for two and a half years as Managing Director, and various senior-level management roles at German multinational banking service provider Deutsche Bank for nearly two decades. “Deborah is a strong addition to our team. In her new role, she will be able to draw on her extensive experience in risk management from some of the world’s largest sell-side institutions to further the CLS risk agenda”, said CLS interim CEO Gilbert Lichter.
