CLS Group, a leading provider of risk mitigation and settlement services for FX dealers and institutions, has announced the foreign exchange (Forex ) trading activity submitted to the firm for November.
The average daily traded volume during the month submitted to CLS was $1.68 trillion. While this might seem like a large figure, it is lower than October’s average daily volume by 1.7 percent, which was $1.71 trillion.
When comparing this figure to the same time period last year - November 2017 - which had an average daily traded volume of $1.677 trillion, this month’s figure is up ever so slightly by 0.1 percent.
The total forex volume is broken down into three sections - FX Swap, Spot FX and FX Forwards. Starting with FX Swap, the average daily traded volume submitted to CLS was $1.13 trillion.
Comparing this value to the previous month, which had an average daily volume of $1.16, this is down by 2.8 percent. On a year-on-year basis, November 2018’s figure is also lower by 2.1 percent.
Moving on to the average daily traded volume for Spot FX, November achieved a value of $455 billion. Again, this is less than what was reported in October ($471 billion), representing a fall of around 3.4 percent.
However, on a yearly comparison, the figure achieved in November of 2018 was actually up, climbing by approximately 3.5 percent from $439 billion in November 2017.
FX Forwards record strongest gains
Finishing up the analysis is FX Forwards. During the month of November, an average daily traded volume of $97 billion was submitted to CLS. This sector is the only one out of the three to actually achieve an increase in volumes both month-on-month and year-on-year.
When compared to the prior month, November’s volume was 19.6 percent higher, jumping from $78 billion in October 2018. On a yearly comparison, the volume increased by around eight percent from $89 billion in November 2017.
