The average daily volume (ADV) submitted to CLS was $1.6 trillion in July, down 2% month-on-month, but up 11.9% year-on-year.
CLS recorded an ADV of $1.04 trillion in swaps in July, down from $1.08 trillion the previous month.
Spot ADV submitted to CLS in July was $453 billion, basically flat from the $455 billion recorded in June.
The ADV of forwards products submitted to CLS last month was $101 billion, down from $108 billion in June.
However, year-on-year, forwards ADV in July was up 46%, while spot ADV was up 13.9%. By contrast, the spot ADV submitted to CLS in July 2016 was $446 billion, only 1.6% less than July 2017.