CLS’ FX ADV Drops -2% to $1.9trn in November, Rises 4% YoY

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CLS' FX ADV Drops -2% to $1.9trn in November, Rises 4% YoY

<p class="MsoNormal">Average daily traded volumes (ADTV) on Continuous Linked Settlement (CLS), a New York-headquartered provider of <a href="https://www.financemagnates.com/terms/s/settlement/" target="_blank" id="2dc6d2c7-1626-4ecf-811e-4c1aabbdb280_2" class="terms__main-term">settlement</a> and aggregation services for the forex industry, decreased by -2% to $1.89 trillion in November 2022. However, year-over-year (YoY), the daily average improved by 4% last month, up from $1.81 trillion in the same period last year.</p><p class="MsoNormal">CLS Sees Drop in November Daily Volume</p><p class="MsoNormal text-align-justify">In October 2022, CLS reported <a href="https://www.financemagnates.com/institutional-forex/cls-group-sees-54-monthly-decline-in-octobers-adv/" target="_blank" rel="follow">a -5.4% drop</a> in its ADTV which reduced to $1.92 trillion, down from $2.03 trillion earlier in September. The new numbers are contained in the CLS FX trading activity statistics for November 2022 shared with Finance Magnates on Thursday.</p><p class="MsoNormal">Check out this recent Finance Magnates London Summit 2022 session on how trading technology is changing.</p><p class="MsoNormal">A breakdown of the daily average traded volumes in November 2022 shows that while the provider's forex forward ADTV shot up by 12% to $0.145 trillion last month, up from $0.129 trillion in the prior month, forex swap and spot volumes both dropped by -3% to $1.274 trillion and $0.473 trillion, respectively. However, compared to November last year, the forward, swap and spot ADTVs improved last month.</p><p class="MsoNormal">"In November 2022, we saw average daily traded volumes of USD 1.89 trillion, an increase of 4% compared to November 2021. Over the same period, FX forward volumes were up noticeably by 47% and FX spot and FX swap volumes were also up by 1% and 2%, respectively," Keith Tippel, <a href="https://www.financemagnates.com/tag/cls-group/" target="_blank" rel="follow">CLS'</a> Chief Produce Officer, explained. </p><p class="MsoNormal text-align-justify">Institutional FX Spot Trading Volume in November</p><p class="MsoNormal">Unlike CLS, forex spot trading volume on Cboe FX, which is run by one of America's largest derivatives exchange operators, and those on Germany's Deutsche Börse's 360T, <a href="https://www.financemagnates.com/institutional-forex/novembers-total-institutional-fx-spot-trading-volume-jumped-mom/">posted</a> month-over-month growth in November, reaching $921 billion and $545 billion, respectively. </p><p class="MsoNormal">However, trading activities on Click 365, an FX daily futures contracts trading venue operated by the Tokyo Financial Exchange, dropped by -16.4% MoM drop in November. </p>

This article was written by Solomon Oladipupo at www.financemagnates.com.

Source: CLS' FX ADV Drops -2% to $1.9trn in November, Rises 4% YoY