Читать книгу Foreign Exchange: The Complete Deal - James McDowell. Sharpe - Страница 40
Table 3.2 – Global foreign exchange market turnover by instrument
ОглавлениеSource: BIS (Bank for International Settlements)
The figures show that spot trades account for 37% of transactions, which is similar to 1998 levels and up from 30% in 2007. This particular situation may be a result of the 2007-09 financial crisis, as company boardrooms might have been less inclined to use more sophisticated instruments and looked to take a more conservative approach.
The use of options fell to USD 207bn per day in April 2010, from USD 212bn in 2007, although one should not lose sight of the rapid growth in the preceding decade. The most actively traded instrument remains foreign exchange swaps, which were almost unchanged from 2007 to 2010 with daily turnover of USD 1.8trn. This reflects the critical role of swaps in the hedging process, which I shall be covering later.