CLS Bank will be settling up to 90% more instructions a day by the end of 2005, according to new research by TowerGroup. The findings are based on independently conducted research amongst 41 of CLS Bank’s members and 36 customers of members (third parties). The study predicted that the volume of third party instructions would increase by a factor of five by the end of 2006. Usage of CLS Bank by current users is also set to rise, with the proportion of current member respondents settling over 50%, rising from 60% to 89% by the end of 2005, according to TowerGroup.
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