CLS Group Sees 4% Yearly Increase in November Average Daily Traded Volume

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

According to the official release, the total average daily traded volume came in at $1.89 trillion, 4% higher than the prior year's 1.812 trillion and 1.86% lower than the prior month's 1.928 trillion.

CLS's services in the FX market can be categorized into three segments: forward, swap and spot. For the FX forward, its volumes stood at $0.145 trillion, up by 47% on a YoY basis. Compared to November 2021, FX spot and FX swap volumes reached $0.473 trillion and $1.274 trillion, up 1% and 2%, respectively.

As Fazzaco reported earlier this month, MUFG Bank becomes the first Japanese bank to commit to using CLSNet, CLS's bilateral payment netting calculation service for over 120 currencies. MUFG Bank will join the expanding CLSNet community of global and regional banks, which includes eight of the top ten global banks.