CLS Volumes Rise in January, 360T Non-Spot Mixed
Posted by Colin Lambert. Last updated: February 17, 2023
CLS says its settlement service handled FX trades worth $1.913 trillion in January, a 1.9% increase on January 2022.
The increase was thanks to higher activity in spot and outright forwards, with FX swaps activity declining. Spot average daily volume was $465 billion, up 2.2% year-on-year and up 13.7% month-on-month. In outright forwards, meanwhile, ADV was $138 billion, a massive 46.8% increase year-on-year and up 19.6% from December 2022. Only in FX swaps was there a decline on a year-on-year basis, ADV was down 1.4% from January 2022, however compared to December of that year it was 10.3% higher.
Meanwhile, Deutsche Börse says 360T handled EUR 113.6 billion in January, an 11.6% rise from the year before, but down 11% on what was a very strong December for the platform. Earlier this month 360T reported a rise in spot ADV of 9.3% year-on-year and by 34.7% in NDFs.