CLS has reinforced the impression that FX markets were busier in September by reporting a 7.7% increase in volumes handled from August. Earlier this month a series of FX trading platform providers also mostly reported a month-on-month increase.
CLS says it handled $1.729 trillion per day in September, a 1.2% decline on a year-on-year basis. Of this, $1.199 trillion was FX swap volume, up 9.3% month-on-month and 5.4% up year-on-year. In contrast, FX outright volumes were flat month-on-month at $83 billion, and down 18.6% from September 2017, Spot FX volumes were a mixed bag, comparatively, up 5.1% from August at $447 billion per day, but down 12.3% year-on-year.