Brexit, rise of private debt and regs fuel FX swaps

Foreign exchange currency FX adobe stock
By Ross Lancaster
19 Sep 2019

Trading turnover of FX swaps has increased by more than a third to $3.3tr a day during the past three years, outpacing growth in spot markets, according to the Bank of International Settlements’ triennial survey of the global FX market, released this week.

Amid a 30% global increase in FX products’ trading — hitting $6.6tr a day in April — since the last BIS survey of the market in 2016, it was derivatives products that stood out in the numbers.

Outright forward trading has also surged, by 43% to $999bn per day. ...

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