Meanwhile, the forwards volume also ticked up by 19 percent, or $29 billion to $183 billion. Additionally, the average daily turnover in OTC options climbed by 21 percent in April 2021. This was accompanied by another rise in turnover across spot trades by a factor of 18.3 percent from the previous year, which came in at $384 billion. One of the primary culprits of the recent rise in April 2021 was attributed to a notable increase in swaps turnover, which came in at $357 billion and thus gained nearly 42 percent since the survey of April 2020. The uptick in the FX turnover in North America was broad-based and was reported across most currency pairs, instrument types, counterparty types and execution methods. This semi-annual FX survey is taken every six months to provide the market with frequent information on the size and structure of the FX markets in their respective regions. In addition, the average daily volume was 3 percent higher than the $933 billion reported back in the October 2020 survey. This figure was up 26 percent from the ADV metric in the year before, which was reported at $764 billion. The Foreign Exchange Committee (FXC), a multi-national cooperative conducting a semi-annual survey that includes FX data from leading dealers and banks in North America, today issued its 34th report, which covers April 2021.Īccording to a New York Fed filing, the average daily volume in over-the-counter (OTC) foreign exchange instruments (including spot, outright forward, foreign exchange swap and option transactions) was $966 billion in April 2021.
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