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CLS FX ADV Drops Third Month in a Row, Rises 3% YoY

by Damian Chmiel
  • The daily average volumes reached $1.892 trillion in November 2022.
  • However, other major FX trading venues reported a slowdown caused by the holiday season.
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The average daily traded volumes (ADTV) on Continuous Linked Settlement (CLS), a New York-headquartered provider of settlement and aggregation services for the forex industry, dropped 13% in December 2022 to $1.648 trillion compared to the previous month.

CLS Reports Another Monthly Drop in Daily Volume

It is another month in a row when CLS reports a decline in ADTV. In November, the company reported a 2% slide to $1.892 trillion, and in October, a 5.4% slide to $1.92 trillion. The latest data was included in the CLS FX trading activity statistics for December 2022, shared with Finance Magnates on Wednesday.

Although monthly data showed a decline, daily averages were up 3% year-on-year (YoY) compared to December 2021, when values came in at $1.648 trillion.

"In December 2022, we saw average daily traded volumes of USD1.7 trillion, an increase of 3% compared to December 2021," Keith Tippell, the Chief Product Officer at CLS, commented.

A breakdown of the daily average traded volumes in December 2022 shows a decline in all metrics. ADTV for forex forwards slid on a monthly basis from $0.145 trillion to $0.107 trillion, forex swaps from $1.274 trillion to $1.118 trillion, and forex spots from $0.473 trillion to $0.409 trillion. However, from a YoY perspective, the values recorded an increase.

"Over the [YoY] period, we saw an increase in overall volumes across all instruments with FX forward, FX spot, and FX swap volumes up 13%, 9%, and 1%, respectively," Tippell added.

Check out this recent Finance Magnates London Summit 2022 session on how trading technology is changing.

CLS vs. Other Institutional FX Spot Trading Numbers

The holiday season took its toll not only on CLS volumes but also on other major institutional spot forex trading venues. Cboe FX and Deutsche Börse's 360T reported a correction in demand from the traders, translating into double-digit declines.

According to the official figures, Cboe FX Markets ended the month with a total volume of more than $773 billion, which translates to a monthly decline of 16%. However, the figures came in 13.5% higher compared to the same period a year ago.

For 360T, a major spot FX venue in Europe, the monthly volume stood at $590 billion, falling by 10% month-over-month from $545 billion reported in November. However, compared to December 2021, trading demand jumped 2%.

The average daily traded volumes (ADTV) on Continuous Linked Settlement (CLS), a New York-headquartered provider of settlement and aggregation services for the forex industry, dropped 13% in December 2022 to $1.648 trillion compared to the previous month.

CLS Reports Another Monthly Drop in Daily Volume

It is another month in a row when CLS reports a decline in ADTV. In November, the company reported a 2% slide to $1.892 trillion, and in October, a 5.4% slide to $1.92 trillion. The latest data was included in the CLS FX trading activity statistics for December 2022, shared with Finance Magnates on Wednesday.

Although monthly data showed a decline, daily averages were up 3% year-on-year (YoY) compared to December 2021, when values came in at $1.648 trillion.

"In December 2022, we saw average daily traded volumes of USD1.7 trillion, an increase of 3% compared to December 2021," Keith Tippell, the Chief Product Officer at CLS, commented.

A breakdown of the daily average traded volumes in December 2022 shows a decline in all metrics. ADTV for forex forwards slid on a monthly basis from $0.145 trillion to $0.107 trillion, forex swaps from $1.274 trillion to $1.118 trillion, and forex spots from $0.473 trillion to $0.409 trillion. However, from a YoY perspective, the values recorded an increase.

"Over the [YoY] period, we saw an increase in overall volumes across all instruments with FX forward, FX spot, and FX swap volumes up 13%, 9%, and 1%, respectively," Tippell added.

Check out this recent Finance Magnates London Summit 2022 session on how trading technology is changing.

CLS vs. Other Institutional FX Spot Trading Numbers

The holiday season took its toll not only on CLS volumes but also on other major institutional spot forex trading venues. Cboe FX and Deutsche Börse's 360T reported a correction in demand from the traders, translating into double-digit declines.

According to the official figures, Cboe FX Markets ended the month with a total volume of more than $773 billion, which translates to a monthly decline of 16%. However, the figures came in 13.5% higher compared to the same period a year ago.

For 360T, a major spot FX venue in Europe, the monthly volume stood at $590 billion, falling by 10% month-over-month from $545 billion reported in November. However, compared to December 2021, trading demand jumped 2%.

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