CLS reports an increase in March trading volumes

The foreign exchange settlement provider CLS Group has reported an increase in volumes in March 2021.

The average daily traded volumes reached $1.977 trillion in March with 1.8% MoM rise compared to February.

CLS saw a growing demand across forward, swap, and spot FX markets. FX swaps lead with $1.377 trillion in March, a 3% jump compared to the previous month when it was $1.353 trillion. The numbers were also higher on yearly basis compared to March last year when the financial market saw its highest numbers amid the unprecedented volatility spiked by the beginning of the Coronavirus pandemic.


The forward and spot FX market saw 2% increase in volumes, reaching $0.117 trillion and $0.483, respectively. The numbers in these sections of the market remained lower compared to the ones reported during the same period in 2020.

CLS’s Global Head of Product, Keith Tippell, commented:

Keith Tippell, CLS

Keith Tippell
Source: LinkedIn

In the first quarter of 2021, we witnessed record average daily traded volumes of USD1.95 trillion, demonstrating a consistent increase of FX market activity year-on-year. This was despite a 10% decrease in overall volumes in the month of March 2021 compared to the record highs in March 2020, driven by the extreme market volatility relating to the COVID-19 pandemic.

On a monthly basis, average daily traded volumes in March 2021 were USD1.98 trillion, up 1.8% compared to the previous month. This was reflected across all instruments – FX spot, FX forward and  FX swap volumes increased by 2%, 3% and 2%, respectively. In particular, we saw significant increases for USD/JPY and USD/HKD of 15% and 38%, respectively, compared to February 2021.

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