Annual corporate forex volumes reach $40 trillion

The amount of foreign exchange traded by international top-tier corporates reached $40 trillion last year, according to a report by Connecticut-based Greenwich Associates. Growth was reported by the industry in every region except non-Japan Asia and Latin America.

At the same time, the volume of interest rate derivatives utilised by the same group fell by 10% to $1.4 trillion. This decline was most significant in the US, with European interest rate derivatives - 60% of the world market - flat, and Asia enjoying a 50% increase.

Both markets are still dominated by a few large institutions, the report said. In forex, 75% total volumes are traded by 10% of accounts. In interest rate derivatives, 80% is traded by 20% of users.

The report also reveals a trend of banks segmenting clients on the basis of profitability, working to the advantage of foreign exchange and interest rate derivatives customers.

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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