CLS Sees 10% Drop in FX ADTV for December 2022

Continuous Linked Settlement (CLS), a New York company which offers settlement and aggregation services for the forex industry, reported that the average daily traded volumes (ADTV) submitted to it dropped 10% in December 2022 to $1.704 trillion compared to the previous month.

The company has reported a decline in ADTV for three consecutive months, with the November ADTV dropping 2% to $1.892 trillion, and October decreasing 5% to $1.928 trillion.

However, on a yearly basis, daily averages saw a slight rise of 3% compared to December 2021, when values came in at $1.648 trillion.

ADTV for forex forwards also drop MoM from $0.145 trillion to $0.107 trillion, forex swaps from $1.274 trillion to $1.188 trillion, and forex spots from $0.473 trillion to $0.409 trillion. However, compared to the same period in 2021, the values recorded an increase.

"In December 2022, we saw average daily traded volumes of USD1.7 trillion, an increase of 3% compared to December 2021. Over the same period, we saw an increase in overall volumes across all instruments with FX forward, FX spot, and FX swap volumes up 13%, 9%, and 1%, respectively," Keith Tippell, the Chief Product Officer at CLS, commented.