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CLS Volumes Flat in August

As was the case with the major FX trading platforms to report average daily volume, activity on CLS was also broadly flat in August, but down year-on-year.

The settlement utility handled $1.649 trillion per day in August, a fraction down from $1.657 trillion in July, but down 5.8% year-on-year. FX swap volumes were $1.188 billion per day, again broadly unchanged from July (down 0.8% year-on-year), while spot volume was $384 million, unchanged from July but down 12.9% year-on-year. Outright forward volumes were $77 billion, from $80 billion in July and $111 billion in August 2020.

Peak August volume was $2.28 trillion, CLS says, which coincided by Federal Reserve chairman Jerome Powell’s announcement at the Jackson Hole conference of the move to a flexible inflation targeting regime in the US.

Colin Lambert

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