FX volumes spike to record $2.1 trillion at CLS Group

abdelaziz Fathi

Foreign exchange settlement provider, CLS Group saw record volumes in March 2022 as investors flock to safe-haven currencies amid violent market swings on fears of a Ukrainian war-fueled global recession.

CLS Group

The average daily traded volume submitted to CLS was $2.12 trillion in March 2022, which is up 7 percent month-over-month from $1.98 trillion in February 2022. Across a yearly timetable, the figure was also up relative to March 2021’s figure.

CLS reported swaps volumes at $1.45 trillion in March 2022, which is up from $1.36 trillion in February 2022, a rise of 6.6 percent month-over-month. However, the figure was also higher by 5.8 on a yearly basis from $1.37 trillion in 2021.

In terms of CLS’ spot FX volume, the group has reported the figure at $550 billion in March 2022, which is up 7 percent relative to $514 billion in the month prior. Additionally, the spot turnover was up 13 percent over a yearly basis from the $487 billion set in 2021.

CLS Group expands product portfolio

Finally, CLS forwards business yielded a figure of $125 billion last month, up 16 percent over a monthly basis from $125 billion in February. Further, the figure was up by 5 percent when weighed against the $119 billion set in 2021.

“In March 2022, we saw average daily traded volumes of USD2.13 trillion, an increase of 7% compared to March 2021. Overall volumes across all instruments increased year-on-year with FX spot, FX forward and FX swap volumes up by 13%, 6% and 5%, respectively,” said CLS’s Global Head of Product, Keith Tippell.

CLS Group, which provides risk mitigation and settlement services for FX dealers and institutions, has shifted its reporting methodology for FX data in 2018. The figures are now reported based on one side of FX transactions and only one of the four legs of FX swap trades, in line with BIS standards and Foreign Exchange Committee market reports, and thus it avoids double counting the total amount of trades.

The company, which was formed in 2002 to reduce FX settlement risks, recently has been keen to promote itself as a provider of innovative products, including post-trade risk management, aggregation, and netting solutions.

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading


DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.