The CLS Group has reported volume and transaction data for trades settled on its network. For the month, average daily volume (ADV) of settled trades rose to $5.19 trillion, up 12.6% from December 2012. During the month, total average trades rose 40.6% from December to 1,244,505.
The volume data supports similar figures that were reported from other FX venues. The interesting data point was the surge in executed trades which showed that CLS member banks were executing more transactions but they were smaller than in December; as average trade size was about $4.1 million. The smaller trades fits well with the volatitly that took place during January which led to an increase of shorter term trading.
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(Important note: CLS reports volume data from both sides of a transaction. To compare figures to those used by the BIS in its global calculations, CLS numbers need to be divided by two)