CLS Group Reports Uneven Volumes for April, Spot FX Down

CLS reported spot FX volume at $435.0 billion in April 2017, down -5.8 percent from $462.0 billion in March 2017.

CLS Group, the leading provider of risk mitigation and operational services for foreign exchange dealers and institutions, today reported its trading metrics for April 2017, which showed uneven figures and volumes that ultimately erased last month’s recovery.

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Average daily input value submitted to CLS, which combines the settlement and aggregation services totals, was down in April 2017 by -5 percent MoM at $1.52 trillion compared with $1.6 trillion reported back in March 2017. Across a yearly timetable, the figure reflected a flat change relative to April 2016.

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Of the aforementioned figure, CLS reported swaps volumes at $988 billion in April 2017, falling against $1.04 trillion in March 2017, or -5.0 percent month-over-month. Across a yearly interval, however, the figure was higher by a factor by 1.2 percent YoY when weighed against the same month a year ago.

In terms of CLS’ spot FX volume, the group has reported the figure at $435.0 billion in April 2017, down -5.8 percent from $462.0 billion in the month prior and also saw a 8.7 percent drop year-over-year from the $435.0 billion set back in April 2016.

The weak performance was again pronounced across CLS forwards business which yielded a figure of $93 billion last month, down -2.1 percent month-over-month from $95 billion in March, but was reflective of a 24 increase year-over-year from $75 billion in April 2016.

Effective January 2017, CLS has shifted its reporting methodology for FX data. The figures are now reported based on one side of FX transactions and only one of the four legs of FX swap trades, in line with BIS standards and Foreign Exchange Committee market reports, and thus it avoids double counting the total amount of trades.

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