CLS Group’s ADV down 10% Mom in November

CLS Group trading volumes

CLS Group, the market infrastructure provider of risk mitigation services to the global FX market, has just published its operating metrics for the month of November 2019.

The average daily traded volume submitted to CLS was USD1.61 trillion, down 10 percent from USD1.79 trillion in October 2019.



Average daily traded volume submitted to CLS by product (USD trillion)*

November 2018 October 2019 November 2019
Swap 1.128 1.276 1.172
Spot 0.455 0.415 0.366
Forward 0.097 0.094 0.069
Total average daily traded volume submitted to CLS (USD trillion) 1.680 1.785 1.607

* Due to rounding, numbers presented throughout the document may not add up precisely to the totals provided, and percentages may not precisely reflect the exact figures.

CLS Data Officer, Rob Franolic, commented:

In November, the average daily traded volume submitted to CLSSettlement was USD1.61 trillion, representing a 4% decline compared to November 2018. This decline was driven by a 20% decrease in FX spot volumes year-on-year. However, the decline in spot activity was offset by a 4% increase in FX swap volumes over the same period.

Declining FX spot volumes may be the result of the lower volatility we are witnessing in the FX market, while increasing FX swap volumes may be due to increased hedging on the back of uncertainty about the future.

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