The anatomy of the global FX market through the lens of the 2013 Triennial Survey

Dagfinn Rime and Andreas Schrimpf

BIS Quarterly Review, 2013

Abstract: 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: C42 C82 F31 G12 G15 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (38)

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