By John Lowes of the Bank’s Data Statistics Division and Tsvetelina Nenova of the Bank’s Foreign Exchange Division.
In April this year, central banks and monetary authorities in 53 countries, including the United Kingdom, conducted national surveys of turnover in foreign exchange (FX) markets and in over-the-counter (OTC) interest rate derivatives markets. These surveys have taken place every three years since 1986 and measure turnover for the whole of April. They are co-ordinated on a global basis by the Bank for International Settlements (BIS), with the aim of obtaining comprehensive and internationally consistent information on the size and structure of the corresponding global markets.
The foreign exchange and over-the-counter interest rate derivatives market in the United Kingdom
The 2013 BIS triennial survey results for the United Kingdom