The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

Volumes rebound

After the expected fall in volumes in the first quarter of 2009, the FX market has reassessed the risks and volumes are growing once again. The latest data shows the market is in good health.


In New York, the Foreign Exchange Committee’s 11th survey of North American volume found that the total average daily turnover in over-the-counter instruments, including spot transactions, outright forwards, FX swaps and options, totalled $675 billion during October 2009, an impressive increase of 28.1% on April 2009. This level of activity is almost back to those of October 2007 and April 2008. It suggests that activity may soon be back to where it was in October 2008. Turnover then was $762 billion.


Encouragingly, the FXC says the increased volume was “broad-based, occurring across all instrument types, counterparty types and execution methods, as well as across most currency pairs.” Compared with the figures reported six months ago, average daily turnover in spot rose 32% to $388 billion; outright forwards 16% to $85.5 billion; swaps 24% to $176.3 billion; and option volumes rose 41% to $25.1 billion because of markedly increased liquidity and greater demand at lower volatility levels.


In London, the Foreign Exchange Joint Standing Committee reports less dramatic increases.




You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree