CLS FX trading activity November 2019

In November 2019:
The average daily traded volume submitted to CLS was USD1.61 trillion, down 10 percent from USD1.79 trillion in October 2019.

CLS Data Officer, Rob Franolic, commented:

“In November, the average daily traded volume submitted to CLSSettlement was USD1.61 trillion, representing a 4% decline compared to November 2018. This decline was driven by a 20% decrease in FX spot volumes year-on-year. However, the decline in spot activity was offset by a 4% increase in FX swap volumes over the same period. Declining FX spot volumes may be the result of the lower volatility we are witnessing in the FX market, while increasing FX swap volumes may be due to increased hedging on the back of uncertainty about the future.”

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

November 2018

October 2019

November 2019

Swap

1.128

1.276

1.172

Spot

0.455

0.415

0.366

Forward

0.097

0.094

0.069

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

1.680

1.785

1.607

* 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.

About CLS data

The data provided is based on executed trade volumes submitted to CLS. It is adjusted to equate to the same reporting convention used by the Bank for International Settlements (BIS) and the foreign exchange committees’ semi-annual FX volume surveys. These surveys only report one side of any trade, and only one of the four legs of FX swap trades, to avoid double counting the total amount of trades.

CLSMarketData is available for subscription through CLS. The market data reports contain executed trade volume (number of trades and total value in USD), prices and flow by hour or day. The data is aggregated by trade instrument (spot, swap and outright forward) and currency pair and can be delivered intraday hourly or end of day. For more information please email sales@cls-group.com.

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