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CLS reports 4% MoM rise in November average daily traded volume



CLS, the market infrastructure provider of risk mitigation services to the global FX market, has released its operating metrics for November 2020.

The average daily traded volume submitted to CLS was USD 1.787 trillion, up by 4.7% from USD1.785 trillion in October 2020.

Average daily traded volume submitted to CLS by product (USD trillion) November 2019 October 2020 November 2020  
Forward 0.069 0.116 0.098
Swap 1.172 1.202 1.239
Spot 0.366 0.389 0.450
Total average daily traded volume submitted to CLS (USD trillion) 1.607 1.707 1.787
CLS Group trading volumes

CLS’s Head of Information Services, Masami Johnstone, commented:

Masami Johnstone, CLS
Masami Johnstone
Source: LinkedIn

Daily traded volumes in November were USD1.79 trillion, up 4.7% compared to October 2020. Both FX spot and FX swap volumes increased compared to the previous month by 15.7% and 3.1%, respectively, while FX forward volumes decreased by 15.5%. Compared to November 2019, FX spot and swap volumes recorded an increase of 23% and 5.7%, respectively.

The increase in spot volumes followed the US Presidential election on 3 November and continued with the announcement of the Pfizer/BioNTech Covid-19 vaccine on 9 November. The increase in spot volumes was notable for EUR/USD, up 15%, and USD/JPY, up 31%, compared to the previous month.

Earlier in this month, BGC Brokers LP’s division Capitalab signed a services agreement with CLS Group, benefiting from FX forwards and swaps data directly from CLS in all CLSSettlement-eligible currencies, enhancing the speed and efficiency of FX portfolio optimisation.

In November, CLS also partnered with fintech firm Finastra. The companies collaborated to provide Finastra customers with access to CLSNet, CLS’s bilateral payment netting calculation service.

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CLS reports 4% MoM rise in November average daily traded volume

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