CLS Group, a provider of settlement services in the FX market, recently published its trading volumes for June 2022. Overall, the FX volumes increased by almost 4% compared to the same period last year. The average daily traded volumes reached $1.98 trillion in June 2022, which is up by 6% compared to the previous month.
CLS Group saw sharp growth across FX forward and FX spot as volumes increased by 33% and 17%, respectively. Spot trades contributed almost $502 billion to the total volume during the reported period.
Keith Tippell, the Chief Product Officer at CLS, said: “In June 2022, we saw average daily traded volumes of USD 1.98 trillion, an increase of 4% compared to June 2021. Over the same period, FX forward volumes were up noticeably by 33%, FX spot volumes increased by 17%, while FX swap volumes decreased by 3%.”
In May 2022, CLS Group saw a marginal recovery in the FX demand. The ADV for the mentioned period came in at $1.86 trillion.
FX Spot Volumes
The 17% spike in FX spot volumes was driven by strong activity across leading currency pairs like EUR/USD, USD/JPY, USD/CAD and GBP/USD. Additionally, decent growth was observed across AUD/USD, USD/CHF and USDSGD.
FX forward, on the other hand, contributed $137 billion to the total volume during the mentioned period.
“Each month, our analytics group reviews foreign exchange (FX) trading activity, comparing the current month to prior months and looking at daily and hourly activity within the month. The FX spot, swap and outright forward markets are covered in aggregate and at a currency pair level,” CLS Group noted in its report.
