CLS, which is best-known for settling trades in the $5.1tn-a-day foreign exchange market, has plans to expand into new business lines, with data a particular focus as new European trading rules create opportunities in the market.

The company, whose shareholders include AIG, Goldman Sachs and JPMorgan, said on Tuesday that it plans to introduce a range of products and services for the FX market, signalling an intention to expand beyond its traditional domain of settlement.