- Summary:
- CLS Group has recorded an uptick in its FX swaps and forwards volumes on MoM and yearly basis. The average daily trading volume remained $1.99T.
Specialized financial infrastructure provider CLS Group has experienced an uptick in its MoM and YoY trading volume. According to the most recent data, the average daily trading volume in February 2023 at the creator of the multicurrency settlement system remained at $1.99 trillion. This was a 4.2% increase from January 2023.
CLS Group is the parent of the New York-based CLS Bank and operates its pioneering global multicurrency cash system known as Continuous Linked Settlement (CLS). The system is able to manage 18 foreign currencies.
CLS Group Reports A 4.6% Uptick In Swaps Volume
The major boost in the average daily trading volume came from the increase in the volume of the swap, which remained at $1.37 trillion in February 2023. On an MoM basis, this was an increase of 4.6%. It was also marginally more than the $1.36 trillion volume during the same period in 2022.
The CLS spot FX volume also experienced an uptick on an MoM basis. During the second month of the year, the spot FX volume stood at $484 billion, which was 3.9% more than the previous month. Despite an increase on a month-over-month basis, the figure was lower on yearly basis. In February 2022, CLS Group reported a turnover of $515 billion.
The Volume Was At Par With The February 2022 Figure
On a yearly basis, the average daily trading volume of CLS Group came out at $1.99 trillion. This was virtually equal to the volume during the same period in 2022. In February of last year, the CLS group recorded an average daily trading volume of $1.98 trillion.
CLS Group FX forwards volume had the most growth, as it stood at $138 billion in February 2023. This was a 27% increase on a yearly basis, as the reported volume during February 2022 was only $108b billion.