CLS’s Head of Information Services, Masami Johnstone, commented:
Following a period of wide-scale volatility and increased trading activity during the initial phase of the COVID-19 pandemic, average daily traded volumes in CLSSettlement – our payment-versus-payment settlement service – have now stabilized at significantly lower volumes as compared to the same period last year. In May 2020, we saw traded volumes of USD1.48 trillion, representing a decline of 4.3% compared to April 2020, and a decline of 8.5% compared to May 2019.
During May 2020, average daily traded volumes were lower across all instruments. FX spot volumes were down by 4.5%, FX swap volumes were down by 9%, and forward volumes were down by 19.6%. Compared to April 2020, the month of May did see an increase of 1.6% for spot volumes, but FX swap and forward volumes were down 5.6% and 14%, respectively. The decline in forward volumes was the result of the lower outright forward volume of USD363 billion at the end of May, representing a 36% decline compared to the end of April.
Despite the ongoing situation, we have continued to deliver all our services effectively.
The post CLS volumes continue to drop across all instruments in May appeared first on LeapRate.
,
