ForexClear Sees Volume Surge in Q3

The latest update from LSEG’s LCH ForexClear shows that clearing momentum was maintained in Q3, with volumes rising across the board, to new highs.

The firm says average daily volume of $267 billion was cleared in Q3, up 38% year-on-year, although only up a fraction on Q2 2026, when it was just over $264 billion. Within this, NDF ADV for clearing was $225 billion, up 43% on the same quarter in 2025 – also up on Q2 2026 – while FX options cleared ADV was $38 billion, up from $31 billion per day in the same quarter of 2025.

September, as a quarter end, contributed heavily to the surge in activity, ForexClear seeing a new record month for ADV then at $296 billion across all products. NDFs also hit a new peak in September, at $242 billion, up 43% year-on-year, while FX options ADV was slightly lower than recent highs in the high-$40 billions at $37 billion per day.

Other volume continues to hover around the $4-5 billion per day mark, while ForexClear says client clearing activity also rose, in NDFs it hit $4.3 billion in Q3, up 18% year-on-year. This includes a new record day on 10 September at $18 billion notional cleared.

ForexClear also says that its FX Smart Clearing service, an optimised clearing solution for FX forwards, now has 10 bank members live, with further enhancements planned and a broader cohort of banks expected to go live by the end of 2026. Since launching in 2023, the optimised runs have cleared more than $300 billion notional, the firm says.