Countries with the largest gross domestic product GDP Largest stock exchange operators worldwide , by market cap of listed companies. Largest derivatives exchanges worldwide , by volume. As a Premium user you get access to the detailed source references and background information about this statistic. As a Premium user you get access to background information and details about the release of this statistic.
You only have access to basic statistics. This statistic is not included in your account. Skip to main content. Single Accounts Corporate Solutions Universities. Popular Statistics Topics Markets. Premium statistics. Read more. In , the United Kingdom had by far the largest OTC over the counter foreign exchange forex market, with an average daily turnover of around 3. Of this, the vast majority was due to various kinds of forex derivatives, with swaps being the most common forex instrument traded.
Standard spot transactions, where two currencies are exchanged at an agreed price within two days and without a contact, only accounted for 1. Full access to 1m statistics Incl. Single Account. This product is not currently available in your country. View for free. Show source. Show detailed source information? Register for free Already a member? Log in. More information.
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Currently, you are using a shared account. To use individual functions e. If you are an admin, please authenticate by logging in again. Renminbi trading increased in line with aggregate market growth, so the Chinese currency did not climb in the global rankings, unlike in past surveys. In contrast, several other Asia-Pacific currencies gained market share.
Turnover in the Hong Kong dollar more than doubled relative to , and the currency climbed to ninth place in the global ranking up from 13th in The Korean won, Indian rupee and Indonesian rupiah also moved higher in the global rankings. Turning to the currencies of other EME regions, the Mexican peso and the Turkish lira were among the currencies which dropped several places in global rankings.
Graph 1: Foreign exchange market turnover by currency and currency pairs 1 Net-net basis, daily averages in April, in per cent. For additional data by currency and currency pairs, see Table 2 and Table 3 on pages 10 and 11, respectively.
See our Statistics Explorer for access to the full set of published data. Turnover in FX spot markets rose in the survey, but declined as a share in global FX activity. By contrast, trading in FX swaps and outright forwards gained in market share.
The bulk of turnover in FX swaps was in short-maturity instruments overnight up to seven days in April , although trading in longer tenors expanded over the past three years Table 4. Within the various instrument categories within outright forwards, NDFs accounted for a significant share of the increase in trading between and , reflecting in particular the strong activity in Korean won, Indian rupee and Brazilian real NDF markets. The typically long maturity of currency swaps means their average daily turnover is naturally lower than that for other instruments.
Graph 2: Foreign exchange market turnover by instrument 1 Net-net basis, daily averages in April. For additional data by instrument, see Table 1 on page 9. Inter-dealer spot turnover actually declined slightly in absolute terms relative to , whereas inter-dealer turnover in FX swaps, outright forwards and currency swaps expanded noticeably Table 4. Changes in the composition of counterparties went alongside shifts in the mix of traded FX instruments.
The rise in trading with hedge funds and PTFs was mainly attributable to greater activity in outright forwards, but their trading in other instruments also increased. Graph 3: Foreign exchange market turnover by counterparty 1. For additional data by counterparty, see Table 4 and Table 5 on pages 12 and 13, respectively.
FX trading continues to be concentrated in the largest financial centres. While the ranking of these trading hubs remained unchanged from , there were changes in their relative shares in global turnover. This was mainly driven by relatively slower growth of activity in Singapore and Tokyo. Turnover in Hong Kong SAR grew at a higher rate than the global aggregate, raising its share in global turnover by one percentage point.
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A 40% increase in daily forex trading volume was noted over the last decade. Daily turnover in the global foreign exchange market has hit $t, with a 40% increase in a daily forex trading volume over the last decade, according to a bond research firm LearnBonds. The most heavily traded assets are Foreign eXchange (FX) with a turnover of up to $ trillion daily in (Jorion, ; BIS, ). The enormous size of. The foreign exchange or forex market is the largest financial market in the world – larger even than the stock market, with a daily volume of $ trillion.