UK Forex Volume Surge Due To High Frequency Trading?
by Joel Clark at Risk magazine
Market participants attribute a range of factors to the 23% rise in foreign exchange turnover in the UK reported by the Bank of England's FX Joint Standing Committee on July 25
Senior market participants and industry association officials have expressed surprise at a 23% rise in foreign exchange turnover in the UK that came to light last week, with speculation it could be attributed to a rise in high-frequency trading activity in London.
On July 25, the Bank of England's Foreign Exchange Joint Standing Committee (JSC) reported in its semi-annual turnover survey that average daily reported turnover in the UK had jumped to $2,191 billion in April; 23% higher than in October 2010 and 30% higher than a year earlier.
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Comment by Peter jcp on August 2, 2011 at 7:49pm -
Hi Francesc - i dont know whether you can help me here as i am very interested in Forex stats etc. Do you know if the average daily total as risen above the reported $ 3.5 trillion per day of last year and how many billion do they report in a trillion - is it US data or european data biillions in a trillion ???
Is this meaning UK volumes are above US volumes etc etc ?? - any more info would be interesting - thank you regards Peter
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Comment by Francesc Riverola on August 3, 2011 at 10:57am -
Hi Peter
I recently published here an article from Dow Jones stating that Average daily global foreign-exchange turnover has grown to $4.71 trillion according totheir own analysis... you have the link here
http://www.forexstreet.net/photo/global-forex-turnover-april
My understanding is that we are talking about US trillions, so that would be:
Number of zeros U.S. & scientific community Other countries 3 thousand thousand 6 million million 9 billion 1000 million (1 milliard) 12 trillion billion
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Comment by Peter jcp on August 3, 2011 at 11:42am
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Thank you Francesc - sorry must have missed that article before
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Comment by Francesc Riverola on August 3, 2011 at 11:51am
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Hi Peter
Do not worry at all... my pleasure... I also found this from Reuters
Global FX volume rises in April 2011-survey
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