<p>CLS Group, which provides <a href=”https://www.financemagnates.com/terms/f/forex/” 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=”https://www.financemagnates.com/institutional-forex/cls-group-ends-september-with-over-2-trillion-in-fx-adv/” target=”_blank”>September</a>, 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=”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>Forex <a href=”https://www.financemagnates.com/terms/s/swaps/” 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, Chief Product Officer at CLS.</p><p>The average daily traded volume with FX forwards came at $129 billion. Despite the yearly increase, the figure declined by 6.5 percent from September. With FX spot instruments, the figure came in at $488 billion, again, a month-over-month decline of 9.7 percent.</p><p>The trend of monthly decline and strong yearly demand was also seen across other institutional forex trading venues. <a href=”https://www.financemagnates.com/institutional-forex/institutional-spot-fx-volumes-declined-mom-in-september/” target=”_blank”>Cboe FX, Deutsche Börse’s 360T</a>, and <a href=”https://www.financemagnates.com/institutional-forex/fxspotstream-posts-58-monthly-adv-decline-in-october/” target=”_blank”>FXSpotStream</a> have witnessed the same trend for their October numbers.</p>
This article was written by Arnab Shome at www.financemagnates.com.
