Narodowy Bank Polski

Financial System

Turnover in FX and OTC derivatives markets in Poland 2010

In 2010 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 the National Bank of Poland, participated in this study. They collected data from 1,309 financial institutions on the value of the transactions concluded in April 2010 in the foreign exchange market, which includes the spot market and the OTC foreign exchange derivatives market (outright-forwards, fx swaps, CIRS and currency options), and the OTC interest rate derivatives market (FRA, IRS, including OIS, and interest rate options). Seventeen 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 derivatives markets in Poland are presented below:
  • The average daily turnover in the domestic foreign exchange market in April 2010 amounted to USD 7,848 million (a decrease of 15% at current exchange rates compared to the value of transactions in April 2007), of which USD 5,879 million were transactions involving the Polish zloty;
    • The average daily turnover in the domestic spot market in April 2010 amounted to USD 1,955 million (a decrease of 19% at current exchange rates compared to the value of transactions in April 2007), of which USD 1,405 million were transactions involving the Polish zloty,
    • The average daily turnover in the domestic OTC foreign exchange derivatives market amounted to USD 5,893 million (a decrease of 14% at current exchange rates compared to the value of transactions in April 2007), of which USD 4,474 million were transactions involving the Polish zloty,
  • The average daily turnover in the domestic interest rate derivatives market (FRA, IRS, including OIS, and interest rate options) in April 2010 amounted to USD 1,561 million (a decrease of 42% at current exchange rates compared to the value of transactions in April 2007), of which USD 1,472 million were transactions in instruments denominated in the Polish zloty.
The global results are available on the Bank for International Settlements website: www.bis.org

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