CLS FX trading activity | June 2018

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2 min read
Date
19 July 2018
Publication

1.899 USD trillion
Total daily traded volume submitted to CLS
Up 5.9 percent from USD1.793 trillion in May 2018


 

Average daily traded volume
submitted to CLS by product (USD trillion)*
June 2017 May 2018 June 2018
Forward 1.081 1.188 1.303
Swap 0.455 0.507 0.498
Spot 0.108 0.098 0.097
Total average daily traded volume submitted to CLS (USD trillion) 1.644 1.793 1.899

* 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.

Commenting on how CLS, a market infrastructure group delivering settlement, processing and data solutions, has seen record traded volumes in H1 2018, David Puth, CEO:

“The first half of the year has seen record traded volumes at CLS, driven by increased volatility as well as greater participation by a wider segment of the FX market. Greater FX traded volumes bode well for bank trading revenues, with major banks reporting Q2 earnings over the coming weeks. Both February and June saw particularly strong average daily traded volumes at USD1.95 trillion and USD 1.9 trillion respectively, culminating in a record half year average traded volume of USD1.84 trillion. Traded volume is up 19% compared to the same period last year and 26% against the second half of 2017.

“Greater volumes also indicate increased engagement by the buy side in how they manage FX settlement risk. We have seen significant growth from buy side participants through the support of global and local custodians, as well as other third-party service providers. As asset owners, regional banks, non-bank financial institutions and corporates become increasingly aware of the risks associated with currency settlement outside of CLS, we expect traded volumes and participation to continue to increase.

“As the world’s leading provider of risk management and operational services to the FX market, we continue to invest in creating solutions for our clients and the market as a whole. As we introduce these new solutions to the market, our clients can expect to benefit from further liquidity, capital and operational efficiencies.”

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