Richard Willsher
Richard Willsher

Asian FX e-trading: beyond the tipping point

As foreign exchange trading volumes swing further towards Asia, eFX takes centre stage, writes Richard Willsher

First Published: e-Forex Magazine 74 / Regional eFX Perspective / December, 2016

While voice trading is still preferred by some corporates, the move to e-forex trading in Asia has now passed the tipping point. Pressure for greater efficiency and more rigorous compliance is now accelerating take up among all sections of the market. The latest Bank for International Settlements Triennial Central Bank Survey of foreign exchange and over-the-counter derivatives markets shows that Asian financial centres, namely Tokyo, Hong Kong SAR and Singapore intermediated 21% of all foreign exchange trading an increase from the previous 15%. GROWTH MARKETS AND CURRENCIES Considering these statistics, Jan Bellens, EY Asia-Pacific banking and capital markets leader observes. “The three largest Asian trading hubs, Tokyo, Hong Kong and Singapore, increased their combined share of intermediation to 21% in 2016, from 15% in 2013, underscoring the growing importance of Asia in global trade. Other currencies, such as the Korean won, Indian rupee and Thai baht, also experienced higher...continued

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