Strong growth in options trading highlighted in the latest FX data from the Bank of England is indicative of a move away from the use of forwards and swaps for hedging, say market participants.
The Foreign Exchange Joint Standing Committee FX turnover survey – based on data collected in October 2018 from 28 financial institutions active in the UK foreign exchange market – shows that while options turnover grew by more than 15% between April and October, swaps were down by 11%.
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