London, the world’s financial capital for Foreign Exchange trading will be host to a one day summit in June where professionals from leading financial services firms, brokers and bank will discuss the growth opportunities in emerging markets. The event is taking place in the heart of the city near St Paul’s.
In the last BIS survey the most liquid, twenty three emerging markets currencies, collectively contributed to 14% of overall FX volumes, an increase from 12.3% in 2007.
Details highlighted in a specialist paper, published in December 2012, authored by the London School of Economics and the City of London, show that the London FX market has gradually been taking market share of emerging market currencies.
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The report found that “between April 2008 and April 2012, the average daily UK trading volume in NDFs in the four BRIC currencies – Brazilian real (BRL), Russian ruble (RUB), Indian rupee (INR) and Chinese renminbi (CNY) – increased by almost 70% to almost USD 20bn. While NDF contracts account for only about 2% of volume in the London FX market as of April 2012, their growth in the last four years has by far outstripped the growth of other FX transactions.”
Over 180 professionals will be attending the event, speakers include; Chris Cruden of Insch Capital Management, Jon Vollemaere of LetsTalkFX as well as other notable figures.
With 1 week remaining, those who have not registered can do so from here: Register
Brokers in the margin FX and CFD space have started to expand their product range to include emerging market currencies, brokers including; IG, FXDD and Saxo Bank offer the Chinese Yuan and Indian rupee.