CLS Group, which is a major settlement provider in the foreign exchange market, has published some key trading metrics for October, showing a healthy uptick in demand across all offered FX products.
The average daily traded volumes on the platform touched $1.86 trillion last month. That was a month-on-month jump of 1.8 percent while increasing 9 percent on a yearly basis.
CLS’s services in the forex market can be categorized into three segments: forward, swap and spot. The average daily traded volume (ADV) for FX forwards came in at $102 billion, which slipped from the ADV in September 2021 at $114 billion and the ADV in October 2020 at $117 billion. It was the only trading segment where demand went down.
ADV with FX swaps came in at $1.319 trillion, which remained the highest in absolute terms. This figure increased by almost 10 percent when compared with the previous month, while the yearly uptick was around 2.9 percent.
In addition, spot trading demand grew by more than 13.5 percent from the ADV of September, while the increase was 2 percent when compared with the same month of the previous year. In absolute terms, spot trading ADV for October came in at $445 billion.
Other institutional forex trading platforms reported mixed volumes for October. FXSpotStream, which provides multibank FX aggregation service for spot FX trading, witnessed a 4.35 percent month-over-month jump in its ADV with $50.4 billion. In contrast to that, Cboe reported almost flat demand.
Meanwhile, the CLS Group strengthened its directors’ table with the appointment of Gottfried Leibbrandt and Shuta Okawara last month, taking the total directors’ count to 21.
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