Cent accounts all dealing centers
Annex tables: Global foreign exchange market turnover in 1. The Triennial Survey aims to increase the transparency of OTC markets and to help central banks, other authorities and market participants monitor developments in global financial markets.
It also helps to inform discussions on reforms to OTC markets. FX market activity has been surveyed every three years sinceand OTC interest rate derivatives market activity since It is supported through the Data Gaps Initiative endorsed by the G This statistical release concerns the FX turnover part of the Triennial Survey, which took place in April and involved central banks and other authorities in 53 jurisdictions see page They collected data from close to 1, banks and other dealers in their jurisdictions and reported national aggregates to the BIS, which then calculated global aggregates.
Turnover data are reported by the sales desks of reporting dealers, regardless of where a trade is booked, and are reported on an unconsolidated basis, ie including trades between related entities that are part of the same group. Data are subject to revision. Turnover in the renminbi, however, grew cent accounts all dealing centers slightly faster than the aggregate market, and the renminbi did not climb further in the global rankings. It remained the eighth most traded currency, with a share of 4.
Trading of outright forwards also picked up, with a large part of the rise due to the segment of non-deliverable forwards NDFs. This was due to a higher share of trading with non-reporting banks as well as with hedge funds and proprietary trading firms PTFswhile trading with institutional investors declined.
Mainland China also recorded a significant rise in trading activity, making it the eighth largest FX trading centre up from 13th in April Turnover in foreign exchange markets Turnover by currencies and currency pairs The US dollar remained the world's dominant vehicle currency.
The relative ranking of the next seven most liquid currencies did not change from Despite this decline, the yen remained the third most traded currency globally. In addition, trading in yen against several high-yielding EME currencies that are attractive for Japanese retail margin traders, albeit small relative to total JPY turnover, grew faster than the global average. Renminbi trading increased in line with aggregate market growth, so the Chinese currency did not climb in the global rankings, unlike in past surveys.
In contrast, several other Asia-Pacific currencies gained market share.
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Turnover in the Hong Kong dollar more than doubled relative toand the currency climbed to ninth place in the global ranking up from 13th in The Korean won, Indian rupee and Indonesian rupiah also moved higher in the global rankings. Turning cent accounts all dealing centers the currencies of other EME regions, the Mexican peso and the Turkish lira were among the currencies which dropped several places in global rankings.
See our Statistics Explorer for access to the full set of published data. Turnover by instrument and maturity Turnover in FX spot markets rose in the survey, but declined as a share in global FX activity.
Singapore is third-largest forex centre globally and tops in Asia: Survey
By contrast, trading in FX swaps and outright forwards cent accounts all dealing centers in market share. The bulk of turnover in FX swaps was in short-maturity instruments overnight up to seven days in Aprilalthough trading in longer tenors expanded over the past three years Table 4. Within the various instrument categories within outright forwards, NDFs accounted for a significant share of the increase in trading between andreflecting in particular the strong activity in Korean won, Indian rupee and Brazilian real NDF markets.
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The typically long maturity of currency swaps means their average daily turnover is naturally lower than that for other instruments.
Inter-dealer spot turnover actually declined slightly in absolute terms relative towhereas inter-dealer turnover in FX swaps, outright forwards and currency swaps expanded noticeably Table 4. Changes in the composition of counterparties went alongside shifts in the mix of traded FX instruments.
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The rise in trading with hedge funds and PTFs was mainly attributable to greater activity in outright forwards, but their trading in other instruments also increased. For additional data by counterparty, see Table 4 and Table 5 on pages 12 and 13, respectively.
Good job, you've read 3 articles today! Spin the wheel for ST Read and Win now. Let's go! Frequently asked questions Singapore has retained its position as the largest foreign exchange centre in the region and the third-largest globally, after Britain and the United States, according to survey results released today. The results were published by the Bank for International Settlements as part of its poll on the global foreign exchange and over-the-counter OTC derivatives markets.
Geographical distribution of turnover FX trading continues to be concentrated in the largest financial centres. While the ranking how to find out the volumes of options these trading hubs remained unchanged fromthere were changes in their relative shares in global turnover.
This was mainly driven by relatively slower growth of activity in Singapore and Tokyo. Turnover in Hong Kong SAR grew at a higher rate than the global aggregate, raising its share in global turnover by one percentage point.
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Several other FX trading centres also gained in prominence. Mainland China thus climbed several places in the global ranking to become the eighth largest FX trading centre up from 13th place three years previously.
In particular, the Triennial Survey collects data based on the location of the sales desk, whereas some regional surveys are based on the location of the trading desk. Related information.