The Bank of England has conducted this survey on a triennial basis since 1986. This forms part of a global survey conducted by central banks throughout the world, co-ordinated by the Bank for International Settlements (BIS).
The first surveys covered the traditional foreign exchange markets; spot, outright forwards and foreign exchange swaps. In 1995, coverage was expanded to include the over-the-counter (OTC) currency and interest rate derivative markets. The survey records the turnover of participants in these markets (banks and securities houses) during the month of April in each reporting year.
The survey aims to obtain comprehensive and internationally consistent information on the size and structure of the global foreign exchange and OTC derivative markets. The purpose of these statistics is to increase market transparency and thereby help central banks, other authorities and participants to better monitor patterns of activity in the global financial system.
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