This resulted in a liquidity efficiency of 2,1 per cent. Thus, in the ten years of South African participation in the CLS, the average daily value of transactions settled has increased fivefold, with only a 40 per cent increase in pay-in values.
From these statistics it is evident that while our market is benefiting from the risk 2  BIS central bankers’ speeches  management mechanism provided by the CLS system, there are also huge benefits that we gain from the liquidity efficiency.