CLS Group Reports 4% Yearly Increase in FX Average Daily Traded Volume for May

CLS Group, a US-based foreign exchange settlement provider, has published its monthly metrics for May 2022, showing a monthly uptick in demand for FX forward and FX spot.

According to the report, the total average daily traded volume submitted to CLS reached $1.87 trillion, an increase of 4 percent compared to May 2021. In addition, on a month-on-month basis, volumes were up 3.7 percent.

Keith Tippell, Chief Product Officer, said:"In May 2022, we saw average daily traded volumes of USD1.87 trillion, an increase of 4 percent compared to May 2021. Over the same period, FX forward volumes were up noticeably by 45 percent, FX spot volumes increased by 11 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 $127 billion for May, which increased 44.3 percent compared to the same period in 2021. This figure increased by almost 10 percent when compared with the previous month.

FX swap average daily traded volumes were $1.261 trillion, this figure decreased by 0.6 percent when compared with the previous month. In addition, spot trades monthly rose 0.6 percent, contributing $478 billion to the total volume.