CLS July Volumes Up YoY But Slip From June’s Highs

Volumes at settlement provider CLS decreased compared with June, in line with overall trading activity across the market and reflected in numbers reported by platforms, but they showed a 7.9% increase measured against July 2024.

The total trading activity submitted to CLS in July stood at $2.32 trillion, up from $2.148 trillion last year, with FX swaps volumes showing the largest jump growing 8.4% to $1.581 trillion, followed by 8.1% YoY to $200 billion and spot at $536 billion, up $6.4%.

While all product types notched up increases on a 12-month horizon, volumes fell across the board when compared with June, when CLS recorded its third largest volumes since it began publishing data at $2.492 trillion.

On a monthly basis, overall volume fell 7%, forwards dropped 18% to $200 billion from $245 billion, swaps activity declined 6.2% to $1.581 trillion from $1.685 trillion and spot declined 4.6% to $536 billion from $562 billion.