The CLS FX settlement system has reported a -9.9% drop in the average daily value of FX trades settled through their platform in Apr 15, taking volumes back down to $4.64trillion/day.
The monthly drop is slightly below falls reported last week by the major FX spot platforms which saw falls ranging from -10.6% for Reuters to -15.4% for EBS.
Details from the platform and charts are as follows:
CLS value of instructions submitted: $4.64 trillion/day in Apr 15, down -9.9% on the $5.15 trillion/day in Mar 15, and down -3.1% compared to Apr 14.
CLS number of instructions submitted: 1,194, 817/day in Apr 15, down -10.6% on the 1,336.042 in Mar 15, and still some +21.4% up on Apr 14 level of 983,850.
Average Trade size: $3.88mln in Apr 15, up +0.7% on the $3.86mln in Mar 15 although down -20.3% compared to the $4.87mln in Apr 14.
David Puth, CEO of CLS, commented:
CLS Data: Value and number of transactions submitted to CLS in Apr 2015
Note: CLS reports both sides of an FX transaction. To adjust the average daily value data to equate to the same reporting convention used by the Bank for International Settlements and the semi-annual foreign exchange committee market reports, the gross values should be divided by two.