Sizing Up Global Foreign Exchange Markets

18 Pages Posted: 17 Dec 2019

See all articles by Andreas Schrimpf

Andreas Schrimpf

Bank for International Settlements (BIS) - Monetary and Economic Department; Centre for Economic Policy Research (CEPR); University of Tuebingen

Vladyslav Sushko

Bank for International Settlements (BIS)

Date Written: December 8, 2019

Abstract

The latest BIS Triennial Survey shows that global foreign exchange trading increased to more than $6 trillion per day. Trading bounced back strongly following a dip in 2016, buoyed by increased trading with financial clients such as lower-tier banks, hedge funds and principal trading firms. Prime brokerage volumes recovered in tandem. These developments were driven in large part by the greater use of FX swaps for managing funding and greater electronification of customer trading. They led to further concentration of trading in a few financial hubs.

JEL Classification: C42, C82, F31, G12, G15

Suggested Citation

Schrimpf, Andreas and Sushko, Vladyslav, Sizing Up Global Foreign Exchange Markets (December 8, 2019). BIS Quarterly Review, December 2019, Available at SSRN: https://ssrn.com/abstract=3502874

Andreas Schrimpf (Contact Author)

Bank for International Settlements (BIS) - Monetary and Economic Department ( email )

Centralbahnplatz 2
CH-4002 Basel
Switzerland

Centre for Economic Policy Research (CEPR) ( email )

London
United Kingdom

University of Tuebingen ( email )

Wilhelmstr. 19
72074 Tuebingen, Baden Wuerttemberg 72074
Germany

Vladyslav Sushko

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

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