The $4 trillion question: what explains FX growth since the 2007 survey?

Michael King and Dagfinn Rime

BIS Quarterly Review, 2011

Abstract: Daily average foreign exchange market turnover reached $4 trillion in April 2010, 20% higher than in 2007. Growth owed largely to the increased trading activity of "other financial institutions", which contributed 85% of the higher turnover. Within this customer category, the growth is driven by high-frequency traders, banks trading as clients of the biggest dealers, and online trading by retail investors. Electronic trading has been instrumental to this increase, particularly algorithmic trading.

JEL-codes: C42 C82 F31 G12 G15 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (19)

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