CLS Data Confirms Strong September
Posted by Colin Lambert. Last updated: October 17, 2022
After the major platforms reported strong volume data for September, CLS has reinforced the mood with the third highest spot settlement value, only surpassed by March 2020 and March 2022.
Overall the service settled $2.037 trillion in September up, 14.8% from August and up 11.1% year-on-year. Within this, every product set saw solid gains, with spot values of $541 billion per day settled, just shy of the $550 seen in March of this year, up 26.1% from August and up 25.8% year-on-year. In performance terms, CLS more reflects the data from EBS and Refinitiv, both of whose CLOBs benefitted from increased FX volatility, rather than the other ECNs and venues to report.
In forwards, CLS settled an average of $138 billion per day, up 16.9% from August and up 21% year-on-year. In FX swaps, value was $1.358 billion, up 10.7% from August, and up 5.8% year-on-year. The latter is very much in line with the data from Refinitiv’s non-spot volumes, but below that of 360T.
