CLS FX Volumes Follow the Pattern
Posted by Colin Lambert. Last updated: December 15, 2022
Along with the platforms that have previously reported FX turnover data, CLS has also seen a small dip in activity from October according to its latest volume report.
The service says it handled $1.892 trillion in notional volume in November, down 1.9% from October, but up 4.4% year-on-year. While FX swaps and spot – the two largest products on CLS – declined from October, outright forward activity was actually higher. Spot average daily volume (ADV) was $473 billion, down 3.1% month-on-month, while FX swaps activity was $1.274 trillion, down 2.8% on the previous month. In contrast, outright forwards, at $145 billion per day, was up by 12.4%.
On a year-on-year basis, CLS saw growth in all products, by an impressive 46.5% in outrights, by 2.2% in FX swaps, and by 1.3% in spot.