CLS says the average daily traded volume submitted to the settlement service was $1.84 trillion in September, a 5.3% month-on-month increase and a 6.5% year-on-year increase.

FX swaps remains the largest portion of this amount at $1.34 trillion per day, a 12 % increase on both a monthly and annual basis. Activity in spot products declined to $406 billion from $441 billion in August (a 7.9% drop) and from $447 billion in September 2018 (-9.2%). Outright forward activity fell 15.3% from the previous month to $94 billion, however it was 13.3% higher year-on-year.