CLS Volumes Mixed in June
Posted by Colin Lambert. Last updated: July 14, 2022
While spot and outright forward activity on CLS rose in June, largely reflectimng the data released earlier in the month by the major FX trading platforms, there was – in contrast to non-spot data from Refinitiv and 360T – a small dip in the volume of FX swap instructions submitted to the utility compared to the year before.
Average daily volume in spot FX submitted to CLS in June was $502 billion, a 5% increase from May and up 17.3% year-on-year. Outright forward activity was $137 billion per day in June, up 7.9% from May and up 34.3% year-on-year.
The picture, as noted, was slightly different in FX swaps, with CLS reporting ADV of $1.341 trillion, up 6.3% from May, but down slightly on June 2021, by 2.8%.