In September 2020: The average daily traded volume submitted to CLS was USD1.785 trillion, up 8.2 percent from USD1.649 trillion in August 2020

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

September 2019

August 2020

September 2020

Forward

0.094

0.077

0.108

Swap

1.342

1.188

1.250

Spot

0.406

0.384

0.427

Total average daily traded volume submitted to CLS USD trillion

1.842

1.649

1.785

* 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.

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

“Daily traded volumes in September were up sharply (+8.2%) versus the previous month, at USD1.79 trillion. This comprised FX swap volumes of USD1.25 trillion (+5.2%), forward volumes of USD108 billion (+40.3%) and spot volumes of USD427 billion (+11.2%). Compared to September 2019, FX swap volumes were down 6.9%, while forward and spot volumes recorded an increase of 14.9% and 5.2%, respectively.

“The increase in FX spot volumes in September is consistent with the historical average increase observed between August and September. We generally see a slowdown in the FX market in August before the activity picks up in September supported by the IMM date*. At a currency pair level, the increase can be attributed to a significant surge in volumes for the following currency pairs: EURUSD, GBPUSD, USDCAD and AUDUSD.”

*Futures contracts maturity date

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