Financial System

Turnover in FX and OTC derivatives markets in Poland

In 2013 the Bank for International Settlements coordinated a survey on turnover in foreign exchange and over-the-counter derivatives markets. 53 central banks and monetary authorities, including Narodowy Bank Polski, participated in this study. They collected data from around 1,300 financial institutions on the value of transactions concluded in April 2013 in the foreign exchange market (which includes the spot market, outright-forwards, fx swaps, CIRS and currency options) and the OTC interest rate derivatives market (FRA, IRS, including OIS, and interest rate options). Eighteen domestic banks and branches of credit institutions were surveyed in Poland. The purpose of the Triennial Central Bank Survey of Foreign Exchange and OTC Derivatives Market Activity was to obtain comprehensive and internationally comparable statistical information on the liquidity and structure of the respective markets.

The most important data concerning the foreign exchange and OTC interest rate derivatives markets in Poland are presented below:

  • The average daily net turnover in the domestic foreign exchange market in April 2013 amounted to USD 7,564 million (a decrease of 4% at current exchange rates compared to the value of transactions in April 2010), of which USD 5,446 million were transactions involving the Polish zloty; internet trading platforms allowing retail clients to speculate in the foreign exchange market using cash-settled forward transactions have become increasingly popular;
    • Fx swaps continued to be the most actively traded instruments in the domestic foreign exchange market; average daily turnover in these instruments in April 2013 amounted to USD 4,581 million (a decrease of 15% at current exchange rates compared to the value of transactions in April 2010), of which USD 3,088 million were transactions involving the Polish zloty,
    • The average daily turnover in the domestic spot market in April 2013 amounted to USD 2,324 million (an increase of 19% at current exchange rates compared to the value of transactions in April 2010), of which USD 1,730 million were transactions involving the Polish zloty,
  • The average daily net turnover in the domestic OTC interest rate derivatives market (FRA, IRS, including OIS, and interest rate options) in April 2013 amounted to USD 3,038 million (an increase of 95% at current exchange rates compared to the value of transactions in April 2010), of which USD 2,916 million were transactions in instruments denominated in the Polish zloty.

The preliminary results of the survey on global turnover in the foreign exchange and OTC interest rate derivatives markets have been published by the Bank for International Settlements and are available on its website: http://www.bis.org/publ/rpfx13.htm. In addition to that the webpage: http://www.bis.org/statistics/triennialrep/national.htm contains links to press releases of other central banks which present the results of the survey for their national markets.

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See also:

Survey results in previous years:

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Narodowy Bank Polski
Świętokrzyska 11/21
00-919 Warszawa
Poland

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