CLS Reports 15.7% MoM Rise in FX Spot Volume for November
CLS Group, a US-based foreign exchange settlement provider, has reported its operating metrics for November 2020. The average daily traded volume submitted to CLS in November was USD1.787 trillion, representing a 4.7 percent rise compared to the USD1.707 trillion in October 2020.
| Average daily traded volume submitted to CLS by product (USD trillion)* |
November 2019 |
October 2020 |
November 2020 |
| Forward |
0.069 |
0.116 |
0.098 |
| Swap |
1.172 |
1.202 |
1.239 |
| Spot |
0.366 |
0.389 |
0.450 |
| Total average daily traded volume submitted to CLS (USD trillion) |
1.607 |
1.707 |
1.787 |
CLS's Head of Information Services, Masami Johnstone, commented: "Daily traded volumes in November were USD1.79 trillion, up 4.7% compared to October 2020. Both FX spot and FX swap volumes increased compared to the previous month by 15.7% and 3.1%, respectively, while FX forward volumes decreased by 15.5%. Compared to November 2019, FX spot and swap volumes recorded an increase of 23% and 5.7%, respectively."
"The increase in spot volumes followed the US Presidential election on 3 November and continued with the announcement of the Pfizer/BioNTech Covid-19 vaccine on 9 November. The increase in spot volumes was notable for EUR/USD, up 15%, and USD/JPY, up 31%, compared to the previous month."
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