Firms favour swaps over spot when trading FX – BIS
Turnover of foreign exchange derivatives outpaced that of spot contracts in April, data from the Bank for International Settlements’ Triennial Central Bank Survey shows.
Total average daily turnover of forex instruments hit $6.6 trillion in April. Trades between reporting dealers accounted for 38.3%, between reporting dealers and other financial firms 54.6%, and between reporting dealers and non-financial companies 7.2%.
Spot contracts comprised 30% of all trades, compared with 49% for forex
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