There is something interesting going on with CLS Group. Its records showed a dip in the average daily transaction for the month of October. It clocked in at a total of $1.79 trillion. That can sound impressive but that is actually a decline of 3.2% from what it recorded in September. The total of $1.84 trillion was recorded for the average daily traded volume of transactions.
Good but Slight Dip
All these details are in the publication from the foreign exchange settlement provider. Even though the overall operational figures showed an improvement, the finished trade volumes were reduced. The reduction was noticed when compared with the figures for September.
In October alone, the average daily traded volume sent over to CLS was $1.79 trillion. That was a slump of over 3% from the $1.84 trillion that was for September. Over an annual graph, the data showed the progress of 4%. This is in relation to the numbers from October 2018. For that month, the figure was $1.71 trillion.
A quick comparison with the figures from August will put things in a better perspective. CLS Group is a prominent provider of risk mitigation and settlement services for foreign exchange dealers and entities. Its report of operational metrics in August of this year showed a rise on an annual basis. However, it showed no change across the executed trade volumes when compared with the values of the previous month of July.
The trend that was showed then was that there was a steady run in August of this year on a monthly basis. Everything clocked in at $1.750 trillion. Over a period of years, the trend showed an increase of 10% in comparison with the data of August 2018 which came up to $1.605 trillion. That same period, CLS announced swap volumes at $1.198 trillion which was a decrease from $1.251 trillion in July 2019. The decrease was at 4% on a monthly basis.
More Swap Volumes
In the last quarter of this year, CLS announced swap volumes valued at $1.27 trillion. That was a decrease from the $1.34 trillion that was for September 2019. It represented a fall of five percent on a monthly basis. But there is another interesting angle to the trend. It was relatively higher when compared with the same period for last year.
Overall, it does not look too bad. For the volume, the business announced a total of $415 billion in October 2019. That was a reduction of about two points when compared with the $406 billion for September of the same year. For 2018, it was lower in comparison. Last year figures stood at $471 billion in the volume of foreign exchange.
This trend was obvious in its forwards business transactions where the value of $94 billion was recorded last month. The business provides risk mitigation and settlement services for dealers of foreign exchange. They have come up with a foreign exchange forward volume data set that is supposed to assist with the execution of trading.