CLS Volumes Drift from September, Up Y-o-Y
Posted by Colin Lambert. Last updated: November 20, 2025
Average daily traded FX volumes at CLS drifted lower in October, in spite of a small uptick in spot activity across the settlement service provider.
CLS says it settled an average of $2.539 trillion traded volume over the month, down 3.2% from September, but up an impressive 15.2% year-on-year. FX swaps activity declined from September, something that is a regular feature of the CLS data thanks to quarter-end activity boosting September’s data. Average daily traded volume settled was $1.756 trillion, down 4.2% from September, but also up an impressive 15.7%.
Elsewhere, there was an uptick in spot volumes, by 1.8% to $560 billion per day, an 11.1% year-on-year rise, however this was eclipsed by a 7.1% decline in outright forwards volumes to $223 billion per day – a 22.5% year-on-year increase.
