CLS reports steady volumes MoM in September

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

The average daily traded volume submitted to CLS was USD 1.785 trillion, up 8.2% from USD1.649 trillion in August 2020.

Average daily traded volume submitted to CLS by product (USD trillion) September 2019 August 2020 September 2020
Forward 0.094 0.077 0.108
Swap 1.342 1.188 1.250
Spot 0.406 0.384 0.427
Total average daily traded volume submitted to CLS USD trillion 1.842 1.649 1.785
CLS Group trading volumes

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

Masami Johnstone, CLS

Masami Johnstone
Source: LinkedIn

Daily traded volumes in September were up sharply (+8.2%) versus the previous month, at USD1.79 trillion. This comprised FX swap volumes of USD1.25 trillion (+5.2%), forward volumes of USD108 billion (+40.3%) and spot volumes of USD427 billion (+11.2%). Compared to September 2019, FX swap volumes were down 6.9%, while forward and spot volumes recorded an increase of 14.9% and 5.2%, respectively.

The increase in FX spot volumes in September is consistent with the historical average increase observed between August and September. We generally see a slowdown in the FX market in August before the activity picks up in September supported by the IMM date*. At a currency pair level, the increase can be attributed to a significant surge in volumes for the following currency pairs: EURUSD, GBPUSD, USDCAD and AUDUSD.

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