Press
release
Results of
the Semi-annual Survey of Foreign Exchange and
Interest
Rate Market Activity in Hong Kong (April 2021)
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 2021, which covers turnover in both FX transactions and
over-the-counter (OTC) interest rate derivatives transactions. The TMA conducted the semi-annual survey to
promote 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 2021, average daily turnover of foreign exchange transactions amounted to
US$589.6 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 Euro. Average daily turnover of interest rate
derivatives amounted to US$315.7 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 Foreign Exchange Committee in New York, the London
Foreign Exchange Joint Standing Committee, the Singapore Foreign Exchange Market
Committee and the Tokyo Foreign Exchange Market
Committee conducted similar surveys over the same
time period for respective markets. Collaboration has been made
between the TMA and these organisations to announce the results on the same
day.
Treasury
Markets Association
27 July 2021
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