15 June 2020

In May 2020, the average daily traded volume submitted to CLS was USD1.48 trillion, down 4.3% from USD1.55 trillion in April 2020.

CLS’s Head of Information Services, Masami Johnstone, commented:

“Following a period of wide-scale volatility and increased trading activity during the initial phase of the COVID-19 pandemic, average daily traded volumes in CLSSettlement – our payment-versus-payment settlement service – have now stabilized at significantly lower volumes as compared to the same period last year. In May 2020, we saw traded volumes of USD1.48 trillion, representing a decline of 4.3% compared to April 2020, and a decline of 8.5% compared to May 2019.”

“During May 2020, average daily traded volumes were lower across all instruments. FX spot volumes were down by 4.5%, FX swap volumes were down by 9%, and forward volumes were down by 19.6%.

Compared to April 2020, the month of May did see an increase of 1.6% for spot volumes, but FX swap and forward volumes were down 5.6% and 14%, respectively. The decline in forward volumes was the result of the lower outright forward volume of USD363 billion at the end of May, representing a 36% decline compared to the end of April.”

“Despite the ongoing situation, we have continued to deliver all our services effectively.”

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

May 2019

April 2020

May 2020

Forward

0.092

0.086

0.074

Swap

1.125

1.085

1.024

Spot

0.403

0.379

0.385

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

1.620

1.550

1.483

 

* 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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