CLS Group FX Activity Slumps in November

FX Forwards was the only sector to report both a monthly and yearly increase in trading activity.

CLS Group, a leading provider of risk mitigation and settlement services for FX dealers and institutions, has announced the foreign exchange (forex) trading activity submitted to the firm for November.

The average daily traded volume during the month submitted to CLS was $1.68 trillion. While this might seem like a large figure, it is lower than October’s average daily volume by 1.7 percent, which was $1.71 trillion.

When comparing this figure to the same time period last year – November 2017 – which had an average daily traded volume of $1.677 trillion, this month’s figure is up ever so slightly by 0.1 percent.

The total forex volume is broken down into three sections – FX Swap, Spot FX and FX Forwards. Starting with FX Swap, the average daily traded volume submitted to CLS was $1.13 trillion.

Comparing this value to the previous month, which had an average daily volume of $1.16, this is down by 2.8 percent. On a year-on-year basis, November 2018’s figure is also lower by 2.1 percent.

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Moving on to the average daily traded volume for Spot FX, November achieved a value of $455 billion. Again, this is less than what was reported in October ($471 billion), representing a fall of around 3.4 percent.

However, on a yearly comparison, the figure achieved in November of 2018 was actually up, climbing by approximately 3.5 percent from $439 billion in November 2017.

FX Forwards record strongest gains

Finishing up the analysis is FX Forwards. During the month of November, an average daily traded volume of $97 billion was submitted to CLS. This sector is the only one out of the three to actually achieve an increase in volumes both month-on-month and year-on-year.

When compared to the prior month, November’s volume was 19.6 percent higher, jumping from $78 billion in October 2018. On a yearly comparison, the volume increased by around eight percent from $89 billion in November 2017.

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