The average daily value settled in the foreign exchange market climbed above $5 trillion in June while average daily volumes also increased, data from FX settlement system CLS Bank showed on Thursday. CLS settled an average daily value of $5.12 trillion, up 13.5 percent from the $4.51 trillion recorded in May.
It was an identical amount to the value settled in July 2011 although still below the record $5.21 trillion hit in September. Average daily volumes climbed 11.2 percent to 823,449, up from 740,342 in May. Total volumes submitted to CLS, combining settlement and aggregation services, rose to 1,171,981 in June, up 10.4 percent from 1,061,829 in May. The CLS Aggregation Service aggregated a daily average of 365,309 instructions, up from 343,257 the previous month.
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