CLS FX trading activity December 2019

In December 2019:
The average daily traded volume submitted to CLS was USD1.60 trillion, down 0.5 percent from USD1.61 trillion in November 2019.

CLS’s Head of Quantitative Research, Rob Franolic, commented:

“We saw average daily traded volumes in December 2019 of USD1.60 trillion, representing growth of 3% compared to December 2018. The pattern in the last month mirrored that seen throughout much of 2019: significant growth in FX swap activity, (9% compared to December 2018), partly offset by a decline in the spot market.

“We also saw heightened USDMXN FX swap activity in December with a record daily average of USD23 billion. This coincided with Mexico lowering interest rates for the fourth consecutive time on 19 December and the signing of a new trade deal with the US and Canada earlier in the month.”

Average daily traded volume submitted to CLS by product (USD trillion)*

December 2018

November 2019

December 2019

Swap

1.052

1.172

1.145

Spot

0.417

0.366

0.370

Forward

0.087

0.069

0.084

Total average daily traded volume submitted to CLS (USD trillion)

1.556

1.607

1.599

* Due to rounding, numbers presented throughout the document may not add up precisely to the totals provided, and percentages may not precisely reflect the exact figures.

About CLS data

The data provided is based on executed trade volumes submitted to CLS. It is adjusted to equate to the same reporting convention used by the Bank for International Settlements (BIS) and the foreign exchange committees’ semi-annual FX volume surveys. These surveys only report one side of any trade, and only one of the four legs of FX swap trades, to avoid double counting the total amount of trades.

CLSMarketData is available for subscription through CLS. The market data reports contain executed trade volume (number of trades and total value in USD), prices and flow by hour or day. The data is aggregated by trade instrument (spot, swap and outright forward) and currency pair and can be delivered intraday hourly or end of day. For more information please email sales@cls-group.com.

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