The anatomy of the global FX market through the lens of the 2013 Triennial Survey
Dagfinn Rime () and
BIS Quarterly Review, 2013
Trading in the FX market reached an all-time high of $5.3 trillion per day in April 2013, a 35% increase relative to 2010. Non-dealer financial institutions, including smaller banks, institutional investors and hedge funds, have grown into the largest and most active counterparty segment. The once clear-cut divide between inter-dealer and customer trading is gone. Technological change has increased the connectivity of participants, bringing down search costs. A new form of "hot potato" trading has emerged where dealers no longer play an exclusive role.
JEL-codes: F31 G12 G15 C42 C82 (search for similar items in EconPapers)
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