CLS Group’s FX Volumes Advance in March on Higher Volatility

CLS's FX volumes were noticeably higher in March, attributed largely to higher trading volatility.

CLS Group, a provider of risk mitigation and operational services, has released its latest volumes and aggregation services statistics for the month ending March 2017 – volumes were higher across the board in the FX space, with CLS registering a jump in swaps, forwards, and spot volumes.

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In terms of March 2017, CLS’s submitted average daily input volume, which combines its settlement and aggregation services, rose to $1.6 trillion during the month, climbing 6.7 percent month-over-month from a figure of $1.5 trillion set back in February 2017. Overall, this also compared favorably to March 2016, justifying a year-over-year boost of 9.6 percent from $1.46 trillion.

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Moreover, the latest batch of statistics included a swaps figure of $1.04 trillion in March 2017, rising against $987.0 billion in February 2017, or 1.7 percent month-over-month – the increase was more pronounced on a year-over-year basis (10.6 percent), vs. $908.0 billion in March 2016.

Looking at CLS’ spot FX volume, the group reported $462.0 billion in March 2016, compared to $427.0 billion in February 2017, or 8.2 percent month-over-month. This advance was stifled year-over-year, unable to advance from $468.0 billion in March 2016.

Finally, CLS’ forwards came in at $9.5 billion in March 2017, reflective of a month-over-month growth of 3.3 percent from $9.2 billion in February 2017 – forwards also advanced by a much broader margin compared to March 2016, climbing 17.3 percent year-over-year from $8.1 billion.

March 2016 was dictated by an uptick in volatility across FX markets, helped by the US Federal Reserve. A rare rate hike managed to shock markets out of a narrow consolidation seen this past February.

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