CLS launches new market data product to confirm pricing models for forwards and swaps
CLS, a market infrastructure group delivering settlement, processing and data solutions, is releasing an FX Forward Volume dataset as part of its comprehensive suite of executed trade data products.
FX Forward Volume data focuses on outright forwards and swaps which provide an aggregated view of the forward market, therefore confirming pricing models for forwards and swaps. This is CLS’s first data product for the FX forward market as CLS’s existing data products currently address the FX spot market.
This unique set of data is designed to provide valuable insights into FX forward market for 33 major currency pairs. Given advances in technology and an increasingly challenging regulatory landscape, it is critical that market participants have an in-depth understanding of market dynamics. CLS FX Forward Volume datasets can assist users to develop new analytics and provide an opportunity to streamline their FX trading strategies.
Masami Johnstone, Head of Information Services, 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.”
CLSMarketData offers a unique perspective of FX market activity that provides access to anonymized, aggregated, and executed trade data sourced directly from market transactions. CLS processes 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.