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<p>CLS Group, a major forex market settlement provider, released its monthly trading metrics for September, reporting almost $2.04 trillion in the average daily traded volume. The figure is higher by more than 15 percent month-over-month and 11.5 percent on a yearly basis.</p><p>September was the second month when the ADV on CLS surpassed the $2 trillion mark. The milestone was first breached last March with a total <a href="https://www.financemagnates.com/institutional-forex/cls-groups-march-2022-fx-adv-crossed-2-trillion/" target="_blank">monthly ADV of $2.12 trillion</a>, making the last one the second-best month for the platform. The overall ADV figure dropped since March to <a href="https://www.financemagnates.com/institutional-forex/cls-group-reports-marginal-recovery-in-may-fx-demand/" target="_blank">follow the industry trend</a>.</p><p><a href="https://www.financemagnates.com/tag/cls-group/" 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>FX swaps, which is the most traded instrument in terms of absolute trading volume, generated an ADV of $1.36 trillion for the period. It jumped from the previous month's $1.23 trillion and $1.28 trillion in a similar month of the prior year.</p><p>The ADV of forex spot instruments came in to be $541 billion, compared to $429 billion and $436 billion in August 2022 and September 2021, respectively. Demand for FX forwards also skyrocketed with an ADV of $138 billion, increasing almost 17 percent and 21 percent on a monthly and yearly basis, respectively.</p><p>Increasing FX Demand</p><p>CLS is a major infrastructure provider in the forex market, offering a wide range of services like settlement, clearing, processing, and market data. CLSNet, which is the company's bilateral payment netting calculation service for buy-side and sell-side institutions, reported a record $100 billion in the <a href="https://www.financemagnates.com/institutional-forex/clsnet-ends-august-with-record-100b-in-net-daily-notional/" target="_blank">average daily notional of net calculations</a> in August.Meanwhile, other institutional forex platforms and market infrastructure providers also reported a significant jump in September demand. <a href="https://www.financemagnates.com/institutional-forex/fxspotstreams-september-adv-climbs-205-as-total-volume-hits-16t/" target="_blank">FXSpotStream</a>, a multi-bank foreign exchange aggregation service provider in the forex market, witnessed a 15 percent increase in September's total volume to $1.6 trillion.</p>

This article was written by Arnab Shome at www.financemagnates.com.