ForexClear Hits Record in January

LSEG’s ForexClear has reported its first results for 2025, hitting a new record for FX options and NDFs cleared.

ForexClear says it cleared $639 billion on FX options in January, at just over $29 billion this is more than double the daily volume cleared in January 2024 and is both a record for total notional and average daily notional.

It was a similar story in FX NDFs, with $3 trillion in volume cleared in the month, up 28% from the year before. The increase was largely with dealers, as client NDF volumes were slightly down on December, but up slightly year-on-year.