CLS Volumes Dip in December
Posted by Colin Lambert. Last updated: January 14, 2022
As expected, CLS Group reports that FX volumes handled by the service dropped in December, reflecting the results from four spot FX platforms earlier in the month.
Overall daily activity on CLS was $1.648 trillion, down 9% from November and down 6.8% year-on-year. Spot volumes were $374 billion, down 19.9% from November and down 8.8 year-on-year, while FX swap activity was $1.179 trillion, down a more modest 5.4% from November and 7.1% lower than December 2020. Outright forward volumes were $95 billion, down from $99 billion in November, but up from the $90 billion recorded in December 2020.
While the spot data is broadly in line with the early group of platforms to report, comparative data on FX swaps is not yet available as Refinitiv is yet to report monthly data and 360T has not yet released its non-spot volumes.