Godfried De Vidts, Godfried De Vidts, President, ACI
Godfried De Vidts, Godfried De Vidts, President, ACI

Evolution and diversification in FX over the past 3 years

Godfried De Vidts looks back over the last 3 years since he took up the chair of the ACI.

First Published: e-Forex Magazine 27 / Foreword / April, 2007

It has been three years since I took up the chair of the ACI, the leading global association of wholesale financial market professionals and I would like to thank our members for their support through a period of significant change, growth and evolution in the global FX markets. A truly global market Open 24 hours a day, seven days a week, turnover in this fascinating market has rocketed in recent years. The latest triennial survey by the Bank for International Settlements in April 2004 estimated daily volumes on the FX market were $1,900bn (£968bn, ?1,437bn) and analysts expect that figure to have reached $3,000bn by the time the BIS releases its survey in April. Research from TowerGroup predicts that by 2007, global FX daily average volumes will exceed US$3 trillion, with more than 44% of this volume executed electronically. This represents a significant increase from US$1.77 trillion in 2004. Yet the global picture is shifting. According to the Federal Reserve Bank of New...continued

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