Forex payments provider CLS Group posted strong trading volumes in June 2023 as divergent political, economic and energy developments spilled over across sectors and shaped the economic landscape in the coming months. Recorded.
Average daily trading volume submitted to the CLS was $2.02 trillion as of June 2023, up 6.3% month-on-month from $1.9 trillion in May 2023. Across the full year schedule, the figure increased by 2% compared to $1.9 trillion in June 2022. .
CLS reported $1.41 trillion in swap trading volume in June 2023, up from $1.3 trillion in May 2023, up 8.5% month-on-month. Additionally, this number increased by 5% on an annual basis.
In terms of CLS spot FX trading volume, the group reported June 2023 figures of $476 billion, up 9.2% from $436 billion the previous month. However, spot sales fell 5.4% on an annual basis from the $503 billion set for 2022.
Finally, CLS forward revenues were $184 billion last month, up 18% from $156 billion last month. The figure was also up 34 percent on an annual basis compared to the $134 billion reported in the same month last year.
“The average daily trading volume in June 2023 was US$2.07 trillion, an increase of 4.4% compared to June 2022. Over the same period, FX futures trading volume increased 34.3%, while FX swaps traded Highs were up 5.1%, while FX spot volumes were down 5.3%,” said Keith Tippel, head of global product at CLS.
CLS Group, which provides risk mitigation and settlement services to foreign exchange dealers and financial institutions, changed the way it reports foreign exchange data in 2018. Figures are currently reported based on only one aspect of a foreign exchange transaction and one of the four legs of a foreign exchange swap transaction. , complying with BIS standards and Foreign Exchange Commission market reports, thus avoiding double counting of transaction totals.
Founded in 2002 to mitigate foreign exchange settlement risk, the company has recently been committed to enhancing its position as a provider of innovative products such as post-trade risk management, aggregation and netting solutions. .
