CLS Volumes Mixed in May
Posted by Colin Lambert. Last updated: June 22, 2023
As was the case with those platforms to reports volume data, CLS volumes offer a mixed picture in May, with activity slightly up from the previous year, but down on April.
The settlement services provider says it handled $1.893 trillion per day in May, down fractionally from April’s $1.935 trillion, and up, equally fractionally, from May 2022’s $1.869 trillion.
FX swaps activity was slightly muted, CLS reporting the lowest daily activity thus far in 2023. It was down 4% from April at $1.301 trillion, but it was up 3.1% year-on-year, this again reflects the data from those platforms to report non-spot volumes.
FX spot activity was $436 billion per day, up 1.6% from April, but down 8.8% year-on-year. Outright forward activity was strong, however, at $156 billion per day, up 3.3% month-on-month and up 21.9% year-on-year.