Market Size of Foreign Exchange
The foreign exchange market is the largest and most liquid financial market in the world.
Traders Include.
- Large Banks
- Central Banks
- Currency Speculators
- Corporations
- Governments
- Financial institutions
The market has continued its growth,according to Euromoney's annual FX poll,volumes grew a further 41% between 2007 and 2008.
Of the $3.98 trillion daily global turnover,trading in London accounted for around $1.36 trillion that is 34.1% of the total making the London by far the global for foreign exchange,New York and Tokyo stood at second and third place with 16.6% and 6.0% respectively.
FX trading increased by 38% between April 2005 and 2006 and has more than doubled since 2001.This is largely due to the growing importance of foreign exchange.The biggest geographic trading center is UK,primarily London,which according to International Financial Services London estimates has increased its share of global turn over in traditional transactions from 31.3% in April 2004 to 34.1% in 2007.The below ten most active traders account for almost 80% of trading volume,according to the 2008 Euromoney survey.These large international banks continuously provide the market with both buy and sell prices.Minimu trading size for most deals is usually 1,00,000 units of base currency,which is standard.
This standard units is not applicable for retail customers at banks though.
| Rank | Name | Market share |
| 1 | Duetsche Bank(GER) | 20.96% |
| 2 | UBS AG(SWIZ) | 14.58% |
| 3 | Barclays Capital(UK) | 10.48% |
| 4 | Royal Bank of Scotland(UK) | 08.19% |
| 5 | Citi(US) | 07.32% |
| 6 | JP Morgan(US) | 05.43% |
| 7 | HSBC(UK) | 04.09% |
| 8 | Goldman Sachs(US) | 03.35% |
| 9 | Credit Suisse(SWIZ) | 03.05% |
| 10 | BNP Paribas(FRA) | 02.26% |
