CLS Group, the market infrastructure provider of risk mitigation services to the global FX market, has just published its operating metrics for the month of December 2019.
The average daily traded volume submitted to CLS was USD1.60 trillion, down 0.5% from USD1.61 trillion in November 2019.
| Average daily traded volume submitted to CLS by product (USD trillion)* | December 2018 | November 2019 | December 2019 |
| Swap | 1.052 | 1.172 | 1.145 |
| Spot | 0.417 | 0.366 | 0.370 |
| Forward | 0.087 | 0.069 | 0.084 |
| Total average daily traded volume submitted to CLS (USD trillion) | 1.556 | 1.607 | 1.599 |
*Due to rounding, numbers presented throughout the document may not add up precisely to the totals provided, and percentages may not precisely reflect the exact figures.
CLS’s Head of Quantitative Research, Rob Franolic, commented:
We saw average daily traded volumes in December 2019 of USD1.60 trillion, representing growth of 3% compared to December 2018. The pattern in the last month mirrored that seen throughout much of 2019: significant growth in FX swap activity, (9% compared to December 2018), partly offset by a decline in the spot market.
We also saw heightened USDMXN FX swap activity in December with a record daily average of USD23 billion. This coincided with Mexico lowering interest rates for the fourth consecutive time on 19 December and the signing of a new trade deal with the US and Canada earlier in the month.
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