BIS to Kick Off Triennial Survey of FX Turnover
Posted by Colin Lambert. Last updated: March 30, 2022
The Bank for International Settlements (BIS) has confirmed that it will launch the 13th Triennial Central Bank Survey of Foreign Exchange and OTC Derivatives Markets on 1 April, 2022, thus providing the FX industry with an updated benchmark for activity.
More than 1,200 financial institutions in 52 reporting jurisdictions will contribute to the 2022 Triennial Survey, the data for which will be collected from financial institutions in April 2022. Data on the outstanding notional amounts and gross market values of foreign exchange, interest rate, equity, commodity, credit and other OTC derivatives will be collected at the end of June 2022.
Preliminary results for turnover will be published by the BIS in September, and for OTC derivatives outstanding in November. The final results will be published in December.
The previous survey, in April 2019, set what is the industry’s benchmark for ADV at $6.6 trillion per day, and as one of his predictions for the year, Colin Lambert told the 360T podcast he expected turnover to be a very specific $7.36 trillion… so we all know it won’t be there!
Conducted every three years since 1986, the Triennial Survey is the most comprehensive source of information on the size and structure of the FX markets. It aims to help central banks, other authorities and market participants monitor developments in OTC markets and inform discussions about reforms to OTC markets. It is coordinated by the BIS under the guidance of the Markets Committee and the Committee on the Global Financial System. Participating central banks survey financial institutions in their jurisdictions and submit national aggregates to the BIS, which calculates and publishes global totals.