FX forward volumes saw an uptick of 48%, while FX spot volumes rose 7%.
The CLS report does not align with the volumes of other US FX venues, including Cboe FX.
New
York-headquartered provider of settlement and aggregation services for the
forex industry CLS has reported an increase of 9.2% year-over-year (YoY) in average
daily traded foreign exchange volumes (ADVs) in January 2024, reaching $2.09
trillion compared to $1.92 trillion in January 2023.
CLS Sees 9.2% Increase in
January Traded Volumes
The
increase was driven by significant growth across all major FX instruments. FX
forwards saw the largest jump, with average daily volumes rising 47.9% YoY to
$204 billion. FX swaps were up 5.9% to $1.39 trillion, while FX spots grew 6.9%
to $498 billion.
"In
January 2024, we saw average daily traded volumes of USD2.09 trillion, an
increase of 9.2% compared to January 2023," said Lisa Danino-Lewis, the Chief
Growth Officer at CLS.
The growth
in volumes reflects the ongoing recovery in the global economy and increased
currency trading activity among financial institutions like investment banks
and hedge funds that use CLS to settle their foreign exchange transactions.
"Over
the same period, we saw an increase in overall volumes across all instruments.
FX forward volumes were up significantly by 47.9%, while FX spot and FX swap
volumes were up by 6.9% and 5.9%, respectively,” added Danino-Lewis.
CLS
facilitates the settlement of FX trades in 18 major currencies, processing over
$6 trillion in payments every day. The recent uptick in volumes indicates
positive momentum for CLS and global currency markets as we head deeper into
2024.
CLS Enlists BNY Mellon,
ING to Enhance FX Transaction Handling
Finance
Magnates reported
in mid-January, that BNY Mellon and ING have entered into a partnership with
the financial market infrastructure firm CLS. These banking behemoths have
enrolled in CLSNet, a service dedicated to the netting calculation of bilateral
payments across more than 120 currencies.
BNY Mellon,
recognized as the world's leading custodian bank with assets surpassing $41.1
trillion, alongside ING, the foremost bank in the Netherlands boasting assets
over €951 billion, have become the newest additions to the expanding CLSNet
community. This service now boasts membership from eight of the world's major
banks.
New
York-headquartered provider of settlement and aggregation services for the
forex industry CLS has reported an increase of 9.2% year-over-year (YoY) in average
daily traded foreign exchange volumes (ADVs) in January 2024, reaching $2.09
trillion compared to $1.92 trillion in January 2023.
CLS Sees 9.2% Increase in
January Traded Volumes
The
increase was driven by significant growth across all major FX instruments. FX
forwards saw the largest jump, with average daily volumes rising 47.9% YoY to
$204 billion. FX swaps were up 5.9% to $1.39 trillion, while FX spots grew 6.9%
to $498 billion.
"In
January 2024, we saw average daily traded volumes of USD2.09 trillion, an
increase of 9.2% compared to January 2023," said Lisa Danino-Lewis, the Chief
Growth Officer at CLS.
The growth
in volumes reflects the ongoing recovery in the global economy and increased
currency trading activity among financial institutions like investment banks
and hedge funds that use CLS to settle their foreign exchange transactions.
"Over
the same period, we saw an increase in overall volumes across all instruments.
FX forward volumes were up significantly by 47.9%, while FX spot and FX swap
volumes were up by 6.9% and 5.9%, respectively,” added Danino-Lewis.
CLS
facilitates the settlement of FX trades in 18 major currencies, processing over
$6 trillion in payments every day. The recent uptick in volumes indicates
positive momentum for CLS and global currency markets as we head deeper into
2024.
CLS Enlists BNY Mellon,
ING to Enhance FX Transaction Handling
Finance
Magnates reported
in mid-January, that BNY Mellon and ING have entered into a partnership with
the financial market infrastructure firm CLS. These banking behemoths have
enrolled in CLSNet, a service dedicated to the netting calculation of bilateral
payments across more than 120 currencies.
BNY Mellon,
recognized as the world's leading custodian bank with assets surpassing $41.1
trillion, alongside ING, the foremost bank in the Netherlands boasting assets
over €951 billion, have become the newest additions to the expanding CLSNet
community. This service now boasts membership from eight of the world's major
banks.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Devexperts Teams Up with nuam Exchange to Boost Equity and Derivatives Trading
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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