CLS Bank Reports Small Decline in October Volumes

CLS Bank reported its October statistics of volumes submitted for settlement on the firm’s network. During the month, average daily

CLS Bank has reported its October statistics of trades and volumes submitted for settlement on the firm’s network. During the month, average daily volumes (ADV) from submitting banks was $5.0 trillion, 1% below September’s figures, but 7.3% above the same period last year. Adjusted for BIS single count accounting, ADV was $2.5 trillion during the month. Similar to the drop in volumes, the average daily amount of order instructions for settlement and aggregation declined 3.8% to 1,037,584.

ADV were led by FX swaps, which recorded at $834 billion, versus $790 billion of FX spot trading (both figures use BIS accounting). In individual currencies, the CLS Bank reported growth in EURUSD and GBPUSD trading, while volumes fell in the USDJPY, USDCAD and AUDUSD.

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CLS Bank Submitted Trade ADV (BIS accounting in $billions)
CLS Bank Submitted Trade ADV (BIS accounting in $billions)

Although showing a smaller decline in trading volumes than the publicly trading FX venues, such as EBS and Thomson Reuters, activity from submitting dealers was more or less in-line with the ECNs. Thus showing little preference among traders in October for single versus multi-dealer trading platforms.

For more on the CLS Bank and their role in FX Settlement 

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