CLS Group Sees 21% YoY Jump in ADV in May
Fazzaco learned that CLS Group, a US-based provider of Forex settlement services, has posted some of its key trading metrics for the month of May, showing a jump in demand across all offered Forex products.
According to the official announcement, total daily traded volume submitted to CLS in May stood at USD1.798 trillion, which is up 21 percent from USD1.489 trillion in May 2020.
Keith Tippell, Global Head of Product at CLS, said: "In May 2021, we saw average daily traded volumes of USD1.798 trillion – an increase of 21 percent year-on-year. There were overall increases across all instruments with FX spot, FX forward and FX swap volumes up 11 percent, 18 percent and 25 percent, respectively, compared to the same month last year."
"Most major currency pairs were also up, with significant increases for EURUSD, USDJPY and USDCAD of 11 percent, 20 percent and 29 percent, respectively, compared to May 2020," added Keith.
Fazzaco earlier reported that CLS Group has hired Matthew Hill as its Senior Product Manager.
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