Foreign Exchange Committee Semi-Annual North American Survey Released

Tuesday, 28/01/2014 | 16:28 GMT by Avi Mizrahi
  • SPOT FX transactions in North America reached only 386,870 Average Daily trading Volume in October 2013 a decrease of 26% since the last survey in April according to Federal Reserve backed industry group.
Foreign Exchange Committee Semi-Annual North American Survey Released
fxc logo

The Foreign Exchange Committee (FXC) has today, January 28, 2014, released the results of its nineteenth Survey of North American Foreign Exchange Volume, regarding the October 2013 reporting period.

The committee is an industry group that was formed in 1978 under the sponsorship of the Federal Reserve Bank of New York, and provides guidance on currency markets and is in coordination with central banks around the world.

The North American Survey found that the Average daily volume (ADV) in total over-the-counter (OTC) foreign exchange instruments (including spot, outright forward, foreign exchange swap and option transactions) was $816 billion in October 2013. The October total was 19% lower than the average daily volume during the April 2013 survey period, but 3% higher than a year earlier.

fxcoct2013tablespot

The Average daily volume decreased across all instrument types since the last survey, but

most significant declines in turnover on a percentage basis were in OTC options and

spot, which decreased 40% and 26%, respectively.

fxcoct2013table1

The committee emphasized that while the decline in turnover occurred across most participant types, it was particularly pronounced for “other financial customers”, which accounted for over half the decrease in total average daily volume.

fxcoct2013table2

The complete data of the survey can be found on the New York Fed's website, at this link (PDF).

fxc logo

The Foreign Exchange Committee (FXC) has today, January 28, 2014, released the results of its nineteenth Survey of North American Foreign Exchange Volume, regarding the October 2013 reporting period.

The committee is an industry group that was formed in 1978 under the sponsorship of the Federal Reserve Bank of New York, and provides guidance on currency markets and is in coordination with central banks around the world.

The North American Survey found that the Average daily volume (ADV) in total over-the-counter (OTC) foreign exchange instruments (including spot, outright forward, foreign exchange swap and option transactions) was $816 billion in October 2013. The October total was 19% lower than the average daily volume during the April 2013 survey period, but 3% higher than a year earlier.

fxcoct2013tablespot

The Average daily volume decreased across all instrument types since the last survey, but

most significant declines in turnover on a percentage basis were in OTC options and

spot, which decreased 40% and 26%, respectively.

fxcoct2013table1

The committee emphasized that while the decline in turnover occurred across most participant types, it was particularly pronounced for “other financial customers”, which accounted for over half the decrease in total average daily volume.

fxcoct2013table2

The complete data of the survey can be found on the New York Fed's website, at this link (PDF).

About the Author: Avi Mizrahi
Avi Mizrahi
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About the Author: Avi Mizrahi
Azi Mizrahi, expert in fintech trends and global markets, enriches readers with deep insights.
  • 2728 Articles
  • 10 Followers

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