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CLS Activity Flat on Year, Down on the Month
CLS says it handled settlement instructions to the notional value of $1.68 trillion in November, up very slightly from the $1.677 trillion in November 2017 and down from $1.71 trillion in October. This represents a 1.7% drop on a month-on-month basis and is largely in line with data reported earlier by various FX platforms. Activity in outright forwards was actually up at $97 billion in November, this is a healthy 24.4% increase from October and 9% up year-on-year. Elsewhere, FX swap activity was $1.128 trillion, down 2.8% month-on-month and down 1.8% year-on-year’ and spot volumes were $455 billion, down 3.4% from October, but up 3.6% year-on-year.

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