CHAPS Sterling and CHAPS Euro Volumes and Values
The CHAPS Clearing Company operates multinational, dual-currency clearing systems. It is a unique combination and is one of the largest real-time gross settlement systems in the world.
The volume and value input for 2003 and 2004 were as follows:
| Volume | Value | |||
| 2003 | 2004 | 2003 | 2004 | |
| CHAPS Sterling | 27,214,642 | 28,321,602 | £51,613 bn | £52,348 bn |
| Chaps Euro | 5,987,102 | 6,540,554 | €53,410 bn | €57,428 bn |
| broken down: | ||||
| Domestic Payments | 1,398,589 | 1,377,898 | €6,623 bn | €6,640 bn |
| Cross Border transmitted | 2,903,540 | 3,313,667 | €25,013 bn | €25,394 bn |
| Cross Border Recieved | 1,684,973 | 1,848,989 | €25,394 bn | €25,394 bn |
During 2004 the increase in the volume of transactions slowed to around 4.5% compared to 6.5% in 2003. Similar to the trend noted last year the average value of a payment has fallen slightly. The average value for 2004 fell from £1.9 million to £1.86 million again indicating that the growth in volume is derived from the lower-value non-financial customer sector.
CHAPS Euro domestic settlements combined with TARGET cross-border settlements indicates an increase of 8.7% for the year. The underlying growth here is in TARGET cross-border settlements. The volume of domestic euro payments fell by 1.5% compared to 2003 whilst the UK's input to TARGET increased by 13.6% over the same period.
