CLS Group, a major foreign exchange (forex) market settlement provider, published the trading metrics for March 2022, reporting a significant increase in demand for all trading instruments.
The total average daily traded volume on the platform came in at $2.125 trillion for the month. This figure saw an increase of 7 percent both on a year-over-year and month-on-month basis. CLS reported $1.982 trillion for February 2022 and $1.985 trillion for March 2021.
“Overall volumes across all instruments increased year-on-year,” said the Chief Product Officer of CLS, Keith Tippell. This statement is also true for month-over-month figures.
CLS categorizes its forex market offerings into three primary instruments: forward, swap and spot.
The demand for forex swaps dominated the other two instruments. The average daily traded volume with this instrument came in at $1.45 trillion, which is 6.6 percent higher than the previous month and 5.1 percent more when compared with March 2021.
FX spot and forward instruments witnessed an average daily traded volume of $550 billion and $125 billion, respectively, last month. While demand for spot instruments took a massive leap of 13 percent year-over-year, spot instruments soared by 5 percent. When compared with February 2022 numbers, the demand for forward and spot instruments jumped by 15.7 percent and 7 percent, respectively.
Record FX Numbers
Forex trading volumes, both institutional and retail, soared last month. Some platforms reported it to be one of the best months in their operational history.
Exness, a Cyprus-headquartered retail trading venue, broke all records by closing March with $2.48 trillion in total trading volume. Additionally, Saxo Bank reported a 35 percent jump in its monthly forex trading volumes.
On the institutional front, Cboe FX Markets ended March as the second-best month in terms of trading volumes with $1.02 trillion. Furthermore, FXSpotStream witnessed a substantial jump in monthly average daily trading volume that touched $70.1 billion.
