The foreign exchange capital of Europe London accounts for a substantial share of the global FX market.
London has continued its dominance in foreign Exchange markets according to the latest half-annual survey data published by the Bank of England’s Foreign Exchange Joint Standing Committee.
As of April 2016, the 30 financial institutions which are actively participating in the survey have reported that the average daily volumes (ADV) of foreign exchange traded in the UK totaled $2.213 trillion. The figure was higher by 5 per cent when compared to October 2015, and 9 per cent lower than last year’s report.
Spot FX trading increased by 4 per cent when compared to October, but was lower by 21 per cent when compared to a year ago. Meanwhile the growth numbers in FX Swaps were higher on both counts - by 4 and by 2 per cent respectively.
The bulk of the increase in trading activity was attributed to turnover in the USD/JPY currency pair, where growth was marked at 27 per cent when compared to the previous edition of the survey from October at $361 billion per day.
The USD/CNY currency pair is the 7th most traded on the market with 1.8 per cent of total transactions. The next closest rival for the Chinese currency is the Canadian dollar, where trading volumes in London remained quite consistent.
Looking at currency pairs data, turnover in some emerging markets pairs has increased materially with the USD/TRY and the USD/MXN charging the way. GBP/USD trading increased by 7 per cent to $256 billion per day. The biggest decliner in majors was the AUD/USD pair, where trading declined by 20 per cent, which is the lowest level since 2010 and a reiteration on the volumes decline in Australia in recent quarters.
The dominance of the biggest six dealers in the UK amongst the 30 surveyed has been the biggest when it comes to currency swaps and and spot trading. FX swaps and outright forwards have been less reliant on the top 6, with the second largest six dealers holding almost 29 per cent of the market.
This is the last survey of the London foreign exchange market turnover before the vote by the UK population to leave the European Union. The next set of data is expected to be published sometime in January 2016 with the bulk of the effects still unclear.
London has continued its dominance in foreign Exchange markets according to the latest half-annual survey data published by the Bank of England’s Foreign Exchange Joint Standing Committee.
As of April 2016, the 30 financial institutions which are actively participating in the survey have reported that the average daily volumes (ADV) of foreign exchange traded in the UK totaled $2.213 trillion. The figure was higher by 5 per cent when compared to October 2015, and 9 per cent lower than last year’s report.
Spot FX trading increased by 4 per cent when compared to October, but was lower by 21 per cent when compared to a year ago. Meanwhile the growth numbers in FX Swaps were higher on both counts - by 4 and by 2 per cent respectively.
The bulk of the increase in trading activity was attributed to turnover in the USD/JPY currency pair, where growth was marked at 27 per cent when compared to the previous edition of the survey from October at $361 billion per day.
The USD/CNY currency pair is the 7th most traded on the market with 1.8 per cent of total transactions. The next closest rival for the Chinese currency is the Canadian dollar, where trading volumes in London remained quite consistent.
Looking at currency pairs data, turnover in some emerging markets pairs has increased materially with the USD/TRY and the USD/MXN charging the way. GBP/USD trading increased by 7 per cent to $256 billion per day. The biggest decliner in majors was the AUD/USD pair, where trading declined by 20 per cent, which is the lowest level since 2010 and a reiteration on the volumes decline in Australia in recent quarters.
The dominance of the biggest six dealers in the UK amongst the 30 surveyed has been the biggest when it comes to currency swaps and and spot trading. FX swaps and outright forwards have been less reliant on the top 6, with the second largest six dealers holding almost 29 per cent of the market.
This is the last survey of the London foreign exchange market turnover before the vote by the UK population to leave the European Union. The next set of data is expected to be published sometime in January 2016 with the bulk of the effects still unclear.
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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