CLS FX trading activity | March 2021

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2 min read
19 April 2021

1.98 USD trillion
Total daily traded volume submitted to CLS
up 1.8% compared to February 2021

Keith Tippell
Global Head of Product

“In the first quarter of 2021, we witnessed record average daily traded volumes of USD1.95 trillion, demonstrating a consistent increase of FX market activity year-on-year. This was despite a 10% decrease in overall volumes in the month of March 2021 compared to the record highs in March 2020, driven by the extreme market volatility relating to the COVID-19 pandemic.

“On a monthly basis, average daily traded volumes in March 2021 were USD1.98 trillion, up 1.8% compared to the previous month. This was reflected across all instruments - FX spot, FX forward and FX swap volumes increased by 2%, 3% and 2%, respectively. In particular, we saw significant increases for USD/JPY and USD/HKD of 15% and 38%, respectively, compared to February 2021.”

Average daily traded volume
submitted to CLS by product (USD trillion)*
March 2020 February 2021 March 2021
Forward 0.129  0.114 0.117
Swap 1.358 1.353 1.377
Spot 0.707 0.475 0.483
Total average daily traded volume submitted to CLS (USD trillion) 2.194 1.942 1.977

* 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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