CLS Group's FX Business Performs Strongly with Its Average Daily Volume Continues to Rise

CLS Group, a provider of risk mitigation and operational services to the Forex market, ended the year with continued momentum in its foreign exchange business, with total daily traded volume continuing to rise in November.

The average daily traded volume of submitted to CLS was $2.05 trillion in November 2023, up 2.5% from $2 trillion in October. This represents an 8.5% increase compared to $1.89 trillion in the same period last year. Besides, it is the third consecutive month that CLS has broken the $2 trillion mark.

CLS reported $503 billion in spot FX in November, up 2.4% compared to $491 billion in the previous month. It was up 6.1% compared to October 2022's $474 billion.

Lisa Danino-Lewis, Chief Development Officer at CLS, said, "In November 2023, we saw average daily traded volumes of USD2.05 trillion, an increase of 8.2% compared to November 2022. Over the same period, we saw an increase in overall volumes across all instruments. FX forward volumes were up significantly by 38%, with FX spot and FX swap volumes up by 6.3% and 5.6%, respectively."