Forex Market Snapshot
Thursday, December 11, 2008
Forex Market Snapshot
Introduction
The following data relate to the Forex market. Much of the information is strained from the 2007 Triennial Central Bank review of Foreign Exchange and derivative Market action conducted by the BIS (Bank for International Settlements) in April 2007. 54 central banks and monetary authorities participated in the survey, collecting information’s from just about 1280 market participant.
Excerpt from the Bank of International Settlements:
"The 2007 review shows an unparalleled rise in action in traditional Forex markets compared to 2004. Average each day
turnover in April rose to $3.2 trillion in 2007. An boost of 71 percent at existing exchange rates and 65 percent at stable exchange rates against the backdrop of low levels of economic market instability and risk loathing. Market participant point to a major expansion in the action of investors group counting hedge funds, which partially facilitated by considerable increase in the exercise of major brokerage, and trade investors. A noticeable boost in the levels of scientific trading –particularly algorithmic trading is also expected to have boosted revenue in the spot market. Transactions stuck between exposure dealers and non-reporting economic institutions, such as hedge funds, pension funds, mutual funds and insurance companies, from April 2004 and April 2007 were doubled and contributed additional than half of the boost in collective turnover." - BIS
Source: BIS Triennial Survey 2007
Trading Hours
- Sunday 5pm EST through Friday 4pm EST
- 24 hour market
- Trading begins in
Size
- $3.2 trillion average daily turnover, equivalent to
- One of the largest financial markets in the world:
- More than 35 times the average daily turnover of the NYSE
- More than 10 times the average daily turnover of global equity markets1
- An annual turnover more than 10 times world GDP
- Nearly $500 a day for every man, woman, and child on earth
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