CLS Group Posts 3% Yearly Increase in October Average Daily Traded Volume

CLS Group, a US-based foreign exchange settlement provider, has published its monthly metrics for October 2022, showing an yearly increase in its total average daily traded volume.

According to the report, the total average daily traded volume submitted to CLS reached $1.928 trillion, an increase of 3.3 percent compared to October 2021. However, on a month-on-month basis, volumes were down 5.4 percent from September's $2.04 trillion.

Keith Tippell, Chief Product Officer, said:"In October 2022 we saw average daily traded volumes of USD1.93 trillion, an increase of 3 percent compared to October 2021. Over the same period, FX forward volumes were up noticeably by 26 percent, FX spot volumes increased by 10 percent, while FX swap volumes decreased by 1 percent."

CLS's services in the FX market can be categorized into three segments: forward, swap and spot. For the FX forward, the report noted that figures were $129 billion for October. This figure decreased by almost 6.5 percent when compared with the previous month.

FX swap average daily traded volumes were $1.311 trillion, this figure was down 3.5 percent when compared with the previous month. In addition, spot trades monthly declined 9.8 percent percent, contributing $488 billion to the total volume.