After reporting solid trading in June, CLS Group has posted its average daily traded volumes for July this Thursday, revealing a drop in volumes across all three of its product segments.
CLS is a leading provider of risk mitigation and settlement services for foreign exchange (FX) dealers and institutions. During the month, the average daily traded volume submitted to the company was $1.75 trillion.
When comparing this to the previous month, when the average daily traded volume was $1.88 trillion, it is lower by 7.1 percent. However, last month’s figure is higher on a year-on-year comparison by 6.8 percent.
CLS: Swap FX ADV Comes in at $1.25 trillion
The total monthly volume is based on three trading sections – swap FX, spot FX, and FX forward contracts. Out of the three, swap FX has by far attracted the highest ADV during July.
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In the seventh month of the year, the average daily traded volume submitted to CLS for swap FX was $1.25 trillion. While this is lower by 4.1 percent than the $1.31 trillion figure reported in June, it has grown by 12.1 percent from July of 2018.
Moving on to the trading volumes for FX spot, which generates the second-highest volumes for CLS, July reported an average daily volume of $388 billion. Unlike swap forex, this volume has fallen by 14.3 percent against June of 2019 and 6.7 percent year-on-year.
Taking a look at the average daily volumes for FX forwards, the volume submitted to CLS for the month was $111 billion. When measuring this against the same month of the previous year, it has managed to rise slightly by 3.7 percent. On a monthly comparison, however, it has fallen by 11.9 percent.