CLS FX trading activity | July 2020

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2 min read
18 August 2020

1.66 USD trillion
Total daily traded volume submitted to CLS
Down 6.8 percent from USD1.78 trillion in June 2020

Masami Johnstone
Head of Information Services

“Consistent with the summer holiday season, we saw subdued levels of average daily traded volumes in July 2020. Daily traded volumes were USD1.66 trillion, down 7% from June 2020, comprising FX swap volumes of USD1.191 trillion (-3.6%), forward volumes of USD80 billion (-20%) and spot volumes of USD386 billion (-12.9%). Compared to the previous year the overall trend was also down, with a decrease of 4.8% and 27.9% in FX swap volumes and forward volumes respectively, while spot volumes were relatively unchanged (-0.5%).

“Of particular note is the considerable downward trend in forward volumes compared to the previous month and year - a trend that started in April 2020 and has continued through to July.”

Average daily traded volume
submitted to CLS by product (USD trillion)*
July 2019 June 2020 July 2019
Forward 1.251 1.235 1.191
Swap 0.388 0.443 0.386
Spot 0.111 0.100 0.080
Total average daily traded volume submitted to CLS (USD trillion) 1.750 1.778 1.657

* 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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