CLS Group Reports Slight Decline in October FX Volumes

The average daily traded volume submitted to CLS was $1.79 trillion in October, down 3.2% MoM from $1.84 trillion in

Foreign exchange settlement provider CLS Group reported its operational metrics for October 2019, which moved higher on a yearly basis, but its executed trade volumes were lower compared with the figures of the prior month.

The average daily traded volume submitted to CLS was $1.79 trillion in October 2019, down 3.2 percent month-over-month from $1.84 trillion in September. Across a yearly timetable, the figure reflected an advance by four percent relative to October 2018’s figure of $1.71 trillion.

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CLS reported swaps volumes at $1.27 trillion in October 2019, down from $1.34 trillion in September 2019, a fall of five percent month-over-month. However, the figure was higher by a factor of ten percent year-over-year from $1.161 trillion a year ago.

In terms of CLS’ spot FX volume, the group has reported the figure at $415 billion in October 2019, up 2.2 percent relative to $406 billion in the month prior. The figure was lower by 12 percent over a yearly basis from the $471 billion set in the previous year.

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CLS turns focus to FX forward market

The mixed performance was again pronounced across CLS forwards business, which yielded a figure of $94 billion last month, unchanged over a monthly basis, and was up 20 percent year-over-year from $78 billion in October 2018.

CLS Group, which provides risk mitigation and settlement services for FX dealers and institutions, announced last week the launch of an FX Forward Volume dataset as part of its executed trade data suite.

The new product provides an aggregated view of the forward market for confirming pricing models for forwards and swaps. It complements its existing datasets, which is focused on the FX spot market, with a dedicated data product for the FX forward market, covering 33 major currency pairs.

The company, which was formed in 2002 to reduce FX settlement risks, recently has been keen to promote itself as a provider of innovative products, including post-trade risk management, aggregation and netting solutions.

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