CLS sees 9% revenue growth

Year-on-year volume growth of 16% at FX settlement service

David Puth at CLS
David Puth, CLS chief executive

Forex settlement service CLS notched up revenue growth of 9% in 2013 and recorded an average daily volume of just over 800,000 trades; a 16% increase from 2012 and the highest in the firm's 11-year history.

According to the CLS annual report, released on May 13, total revenues for 2013 amounted to £172.9 million, with profits standing at £14.6 million. The service also raised an extra £160 million in equity from existing shareholders to meet new regulatory capital requirements.

This growth comes

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