The average daily volume (ADV) of FX trades submitted to CLS in October was $1.79 trillion, down from $1.84 trillion the previous month, but up 4.6% from the $1.71 trillion reported in October 2018.
An ADV of $415 billion in spot FX trades were submitted to CLS last month, which actually represents a 2.2% increase from September, but an 11.9% decrease year-on-year.
By contrast, the ADV of swap trades was $1.28 trillion in October, down 4.5% month-on-month, but up 10.3% year-on-year.
The ADV of forward trades submitted to CLS was $94 billion last month, the exact same amount as September and up from an ADV of $78 billion in October 2018. These results are broadly consistent with a previous report from Profit & Loss highlighting that the data available thus far shows that October was a mixed month for FX platform providers, with CboeFX seeing a slight rise in activity and three other venues seeing small declines.