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CLS Data Reflects Broader FX Slowdown

Data from CLS shows that its average daily input volumes for August were down 15.9% month-on-month, which is consistent with a broader decline in trading activity across the multibank FX platforms last month.

The average daily input volume submitted to CLS, combining the settlement and aggregation services, was 883,368 in August, down from 1,050,046 the previous month and the 1,170,313 recorded in August 2015.

However, average daily input values were flat – down just 0.2% month-on-month to $4.68 trillion from $4.69 trillion in July 2016. On a year-on-year basis, input values were marginally higher than the $4.63 trillion reported in August 2015.

Likewise, most multibank trading venues reported lower trading volumes last month, with activity continuing to decline following the Brexit-induced volatility spike in June.

Galen Stops

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