CLS Processes $2.4T Daily FX In March

Currency settlement network,CLS Bank, settled daily average flows of around $2.4 trillion in March 2011,The Wall Street Journalreports. The industry utility’s average daily value of trades in March increased by 10% as compared to February 2011 when it handled a daily average of around $2.2 trillion.

New York-based CLS handles about 75% of global currency flows. The average daily flow in the overall market was estimated to be around $2.94 trillion in February 2011.

Click here for the story fromThe Wall Street Journal.