CLS today issued an update on the impact to CLSSettlement following the T+1 implementation in the US securities market on 28 May 2024.
Throughout June, CLS monitored CLSSettlement average daily settlement values and volumes and confirms there has been no decrease in either metric. In fact, CLSSettlement average daily settled values increased from USD6.6 trillion in 2023 to USD7.1 trillion (year-to-date), and June 2024 was a record month with average daily values of USD7.8 trillion.
CLS has seen a slight uptick in fund-related submission values to CLSSettlement starting from 14:00 CET onwards, with a more pronounced increase between 22:00 and 23:00 CET followed by a decrease after 23:00 CET. The initial increase is more significant than the subsequent decline, suggesting no overall loss in submission values.
CLS notes that, while it cannot…
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