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Refinitiv, CLS Volume Increase Driven by FX Swaps

The total average daily volume (ADV) of FX trading across Refinitiv platforms in January 2019 totaled $446 billion.

This total, which reflects trading volumes on Refinitiv Matching and FXall in all transaction types, including spot, forwards, swaps, options and non-deliverable forwards (NDFs), represents a 3.2% year-on-year increase and a 12.6% month-on-month increase.

The ADV of spot trading on the Refinitv platforms was $95 billion, actually a 12% decrease compared to January 2018 and a 5.5% increase compared to the previous months. But in non-spot products the ADV was $351 billion, up 8.3% and 15.5% year-on-year and month-on-month, respectively.

Meanwhile the Refinitv data was reflected at settlement services provider CLS, which also saw an increase in FX swap activity while other products declined.

In January, CLS handled $1.784 trillion in notional value, 14.6% up from December 2018, but down slightly (1.1%) from January 2018. FX swaps notional value was $1.253 trillion, up 19.1% month-on-month and 5.4% up year-on-year. 

FX spot volume was $445 billion in January, a 6.7% rise from December but a 13.3% decline from January 2018. Outright forward volume at $86 billion per day, actually fell on both a monthly and annual basis, it was down 1.1% month-on-month and 16.5% down from January 2018.

 

 

Galen Stops

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