The BIS has released its 2019 Triennial Survey of Global FX and OTC Derivatives Markets. The statistics reveal further material growth over the last three years with average daily turnover rising to $6.6 trillion in April 2019, compared to $5.1 trillion in 2016. Derivatives have gained ground over Spot with FX swaps accounting for close to half of all trading in April and London has maintained its dominant position as the premier trading centre with 43% of the market.
To coincide with the release of this report, Andrew Hauser, Executive Director, Markets, at the Bank of England made a speech at TradeTech FX 2019[1] in Barcelona in which he made a call to arms for yet more firms to sign up to the FX Global Code of Conduct, particularly on the buyside.
