Global FX trade surges to $4 trillion per day

first_img Share whatsapp TRADE on global currency markets has jumped by a fifth over the past three years to $4 trillion a day, roughly equal to the annual economic output of Germany, according to the Bank for International Settlements (BIS). The increase in volumes was driven by a 48 per cent jump in turnover of conventional spot transactions, BIS said in the triennial survey, which is watched closely by banks and institutions as a comprehensive snapshot of currency market trading.Growth in the spot market partly reflects the continued rise of algorithmic trading, where so-called black boxes can process thousands of trades a minute.The survey also showed London has further cemented its prominence as the centre for forex markets, accounting for 36.7 per cent of global turnover, up from 34.6 per cent in 2007. In 2007-2010 London’s share of average daily turnover rose roughly by a quarter to $1.9 trillion. That was more than double the turnover in the US, the second-largest centre.The over-the-counter (OTC) derivatives market also saw strong growth, with daily turnover 24 per cent to $2.1 trillion. KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsAll Things Auto | Search AdsBuick’s New Lineup Is Truly StunningAll Things Auto | Search AdsSmartAnswers.netThis New Volkswagen SUV Is The Car Of Your Dreams.SmartAnswers.netSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Show Comments ▼center_img More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Tuesday 31 August 2010 9:17 pm whatsapp Global FX trade surges to $4 trillion per day Tags: NULLlast_img