CLS FX trading activity | January 2020

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2 min read
18 February 2020

1.77 USD trillion
Total daily traded volume submitted to CLS
Up 10.8 percent from USD1.60 trillion in December 2019.

Masami Johnstone
Head of Information Services

“We saw average daily traded volumes in January 2020 of USD 1.77 trillion, representing a decline year-on-year of 1% compared to January 2019.

“Over the same period, swap volumes showed a modest increase of 1%, and spot decreased by 10%, while there was a sharp increase in forward volumes of 26%.

“Major macroeconomic factors affecting the FX market in January 2020 included the global threat of Coronavirus, Brexit, a US-China Trade Deal and strengthening of the USD, supported by superior growth and bond yield in the US.

“Average daily traded volumes in January 2020 were up 10.8% month-on-month compared to December 2019.”

Average daily traded volume
submitted to CLS by product (USD trillion)*
January 2019 December 2019 January 2019
Forward 1.253 1.145 1.263
Swap 0.445 0.370 0.401
Spot 0.086 0.084 0.108
Total average daily traded volume submitted to CLS (USD trillion) 1.784 1.599 1.772

* 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.

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