CLS Group, a leading provider of risk mitigation and operational services for foreign exchange dealers and institutions, today reported its operational metrics for December 2017, which moved lower on a monthly basis but reflected a notable improvement across executed trade volumes when weighed against the figures of a year back.
Average daily traded volume submitted to CLS was down in December 2017 by 6.9 percent month-over-month at $1.562 trillion compared with $1.677 trillion reported back in November 2017. Across a yearly timetable, the figure reflected an 12.9 percent advance relative to December 2016’s figure of $1.383 trillion.
CLS reported swaps volumes at $1.090 trillion in December 2017, down from $1.149 trillion in November 2017, or -5.1 percent month-over-month. However, the figure was higher by a factor of 21.7 percent year-over-year from $895 billion a year ago.
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In terms of CLS’ spot FX volume, the group has reported the figure at $391.0 billion in December 2017, shedding 10.9 percent month-over-month relative to $439.0 billion in the month prior. The figure was also lower by 3.0 percent year-over-year from the $403.0 billion set back in December 2016.
The mixed performance was again pronounced across CLS forwards business which yielded a figure of $81 billion last month, down -8.9 percent month-over-month from $89 billion in November, and was also reflective of a 4.7 percent drop year-over-year from $85 billion in December 2016.
Effective January 2017, CLS shifted its reporting methodology for FX data. The figures are now reported based on one side of FX transactions and only one of the four legs of FX swap trades, in line with BIS standards and Foreign Exchange Committee market reports, and thus it avoids double counting the total amount of trades.
Earlier this month, CLS Group made important moves with the hire of two new employees in key positions. Angus Scott was brought in from Euroclear, and will be the new Head of Product, while Lisa Danino-Lewis was hired to be the new Head of Sales EMEA.