CLS Group, which provides FX settlement, processing and data solutions, has announced that in June 2020, the average daily traded volume submitted to CLS was USD $1.78 trillion, up 20% from USD $1.48 trillion in May 2020.

The CLS report concurs with a number of other volume increases we have seen for June among leading institutional FX trading venues.

CLS’s Head of Information Services, Masami Johnstone, commented:

“June 2020 saw a recovery in average daily traded volumes in comparison to May. The elevated level of volume continued throughout June, which is a contrast to the relatively quiet period seen between mid-April and the end of May following the extreme volatility in March and early April.

“Daily traded volumes were USD1.78 trillion in June, up 20% from May 2020. This was due to a 20.6% increase in FX swap volumes to USD1.24 trillion, forward volumes increasing 35.1% to USD100 billion and spot volumes up 15.1% to USD443 billion. While we saw increases across all products compared to May 2020, FX swap volumes were down 5.2%, forward volumes were down 20.6% and spot volumes were down 2.2% on a year-on-year basis.”