CLS Group’s ADV drops 3.2% MoM in October

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 October 2019.

The average daily traded volume submitted to CLS was USD1.79 trillion, down 3.2 percent from USD1.84 trillion in September 2019.


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

October 2018 September 2019 October 2019
Swap 1.161 1.342 1.276
Spot 0.471 0.406 0.415
Forward 0.078 0.094 0.094
Total average daily traded volume submitted to CLS (USD trillion) 1.710 1.842 1.785

* 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 October, we saw average daily traded volumes of USD1.79 trillion, representing growth of 4% compared to October 2018. The overall growth is being driven by FX swap activity, which grew by 10% over the same period. We also saw a new record of USD219 billion in USDJPY swaps in October.

Increased FX swap activity is consistent with increased hedging, reflecting concerns around geo-political risks such as Brexit and US-China trade relations.

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