Manfred Wiebogen CEE Treasury at VOLKSBANK AG – Vienna. President ACI The Financial Markets Association
Manfred Wiebogen CEE Treasury at VOLKSBANK AG – Vienna. President ACI The Financial Markets Association

BIS confirms sharp increase of FX volume (+71%) in daily currency trading – QUO VADIS electronic trading?

Manfred Wiebogen looks at how the FX industry is undergoing further expansion and the importance of having friends in the markets.

First Published: e-Forex Magazine 30 / Foreword / January, 2008

During the last week of September, the BIS (Bank for International Settlements) published their report on the development of the international Foreign Exchange Markets. This report confirms my foreword in e-FOREX 7/2007 when talking of an “explosion in electronic trading”. Every three years statistics from central banks and monetary authorities are compiled to watch the development in the worlds largest unregulated and most liquid market. The reviewed data comprise the traditional Foreign Exchange business: FX-Spot, Outright Forwards and Foreign Exchange Swaps whilst OTC-Derivatives are reported in a separate statistic.  The FX-industry is undergoing further expansion. In short, the daily traded FX volume increased from 1.880 billion (April 2004) to 3.210 billion in April 2007 – an increase of 71% in just three years! This increase was much stronger than the previous one between 2001 and 2004. The U.K. (34,1% market share) and the U.S. (16,6% market share) are still the...continued

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