CLS, 360T, Volumes Dip from June
Posted by Colin Lambert. Last updated: August 17, 2022
CLS says that it handled notional daily value of $1.879 trillion in July, down 5.1% from June, but up 7.7% year-on-year.
Spot volumes on the service were $471 billion per day, down by 6.2% on June, but up 12.1% year on-year. This outs the data broadly in line with the spot volumes reported earlier this month by various platforms.
Outright forwards volume settled was $140 billion, up slightly from $137 billion in June and significantly higher, some 66.7%, on July 2021. FX swaps volumes, the largest segment on CLS, was $1.268 trillion, this is 5.4% down on June, but up 2.2% year-on-year. Earlier this month, Refinitiv reported non-spot FX volumes – largely FX swaps, as dropping 6.2% from June while rising 2.1% year-on-year.
Deutsche Börse has also reported final FX data for 360T, indicating the platform handled EUR 116.9 billion in July, down 5.4% from June, but up an impressive 34.5% year-on-year. Using steady exchange rates to break out the spot volumes, 360T’s non-spot volume was down 4.5% from June, but up 38.6% year-on-year.