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CLS October Volumes Show Slight Decline

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.

Galen Stops

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