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CLS Group Sees 5.4% Monthly Decline in October's ADV

Started by forex4you, Nov 24, 2022, 04:31 am

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CLS Group Sees 5.4% Monthly Decline in October's ADV

<p>CLS Group, which provides <a href="" target="_blank" id="6faa6714-7f7b-4d23-b1c5-c0d40807d613_1" class="terms__main-term">forex</a> market settlement services, released its monthly metrics for October. The total average daily traded volume submitted on CLS in the month was more than $1.92 trillion.</p><p>The overall figure corrected from $2.03 trillion in <a href="" target="_blank">September</a>, which was a month-over-month decline of 5.4 percent, while it strengthened by 3.2 percent compared to a similar month of the previous year. Notably, in terms of daily average volume in its operational history, September was the second-best month for CLS'.</p><p>Demand Improved Year-Over-Year</p><p><a href="" target="_blank">CLS</a> categorizes its forex market offerings into three primary instruments: forward, swap and spot. Demand for all three offerings jumped in September.</p><p>Forex <a href="" target="_blank" id="57f9fe3b-bac0-4398-a6fb-7d64daaa40b3_1" class="terms__secondary-term">swaps</a> bring in most of the trading activities in absolute numbers. The average daily trading volume with such instruments came in at $1.31 trillion, almost similar to September's $1.35 trillion and October 2021's $1.31 trillion.</p><p>On the other hand, activities with the other two instrument types, FX forwards and spots, noticeably increased from the previous year. "FX forward volumes were up noticeably by 26 [percent], FX spot volumes increased by 10 [percent], while FX swap volumes decreased by 1 [percent]," said Keith Tippell, the Chief Product Officer at CLS.</p><p>The average daily traded volume with FX forwards came in at $129 billion. Despite the yearly increase, the figure declined by 6.5 percent from September. With FX spot instruments, the figure arrived at $488 billion, which is a month-over-month decline of 9.7 percent.</p><p>The trend of monthly decline and strong yearly demand was seen across other institutional forex trading venues. <a href="" target="_blank">Cboe FX, Deutsche Börse's 360T</a>, and <a href="" target="_blank">FXSpotStream</a> have witnessed the same trend for their October numbers.</p>

This article was written by Arnab Shome at

Source: CLS Group Sees 5.4% Monthly Decline in October's ADV
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