Press release
Results
of the Semi-annual Survey of Foreign Exchange and
Interest
Rate Market Activity in Hong Kong (April 2020)
The Treasury Markets Association (TMA) announced today (Tuesday)
the results of the Semi-annual Survey of Foreign Exchange and Interest Rate
Market Activity in Hong Kong in April 2020, which covers turnover in both FX
transactions and over-the-counter (OTC) interest rate derivatives
transactions. The TMA conducted the
semi-annual survey to increase the transparency of the Hong Kong foreign
exchange and over-the-counter interest rate derivatives market.
The semi-annual survey is developed based on the Bank for
International Settlements (BIS) triennial survey on foreign exchange and
derivatives market turnover, but with simplified reporting requirements. Reporting basis of the semi-annual survey is
the same as that of the triennial survey, i.e. primarily the location of the
sales desk servicing the transactions. A
total of 60 financial institutions (comprising 57 authorized institutions and 3
licensed corporations) participated in the semi-annual survey. To safeguard data confidentiality, the Hong
Kong Monetary Authority provided support in data handling and survey
administration.
In April 2020, average daily turnover of foreign exchange
transactions amounted to US$523.5 billion.
US dollar and Renminbi was the most heavily traded currency pair in the
Hong Kong market, followed by Hong Kong dollar and US dollar, and then US
dollar and Japanese yen. Average daily
turnover of interest rate derivatives amounted to US$407.4 billion. Trading was most active in contracts
denominated in Australian dollar, followed by US dollar and then New Zealand
dollar. More details can be found at Annex.
The Australian Foreign Exchange Committee, the Canadian Foreign
Exchange Committee, the New York Foreign Exchange Committee, the Singapore
Foreign Exchange Market Committee, the Tokyo Foreign Exchange Market Committee
and the United Kingdom’s Foreign Exchange Joint Standing Committee conducted
similar surveys over the same time period for respective markets. The TMA endeavoured to collaborate with these
organisations to announce the results on the same day. The results of their surveys can be found at
https://www.afxc.rba.gov.au/statistics
https://www.cfec.ca/fx_volume.html
https://www.newyorkfed.org/fxc/volumesurvey/
https://www.sfemc.org/statistics.html
https://www.fxcomtky.com/index_e.html
https://www.bankofengland.co.uk/markets/london-foreign-exchange-joint-standing-committee
Treasury Markets Association
10 August 2020
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