The Foreign Exchange and Over-the-Counter Interest Rate Derivatives Markets in the United Kingdom

12 Pages Posted: 26 Dec 2010

Date Written: December 13, 2010

Abstract

In April this year, the Bank of England conducted its usual three-yearly survey of turnover in the United Kingdom’s foreign exchange and over-the-counter (OTC) interest rate derivatives markets. This forms part of the latest worldwide survey co-ordinated by the Bank for International Settlements (BIS). The results show that the value of foreign exchange activity in the United Kingdom rose by one quarter between April 2007 and April 2010, increasing the UK share of the global market to 37%. Turnover in OTC interest rate derivatives also rose considerably over the same period. This report sets out the results of the UK survey, and then considers the potential underlying drivers in these markets over the past three years.

Suggested Citation

Broderick, Tristan and Cox, Chris, The Foreign Exchange and Over-the-Counter Interest Rate Derivatives Markets in the United Kingdom (December 13, 2010). Bank of England Quarterly Bulletin 2010 Q4, Available at SSRN: https://ssrn.com/abstract=1730187

Tristan Broderick (Contact Author)

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Chris Cox

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

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