Singapore Retains Position as One of the Largest FX Centres Globally
MAS, together with central banks and other authorities in 52 other jurisdictions, conducted a survey of turnover in the global FX and OTC derivatives markets in April 2019. Coordinated by the BIS, this global effort is undertaken every three years with the aim of increasing the transparency of OTC markets and helping market participants, infrastructure providers, central banks and other authorities to monitor developments in global financial markets. It is a comprehensive source of information on the size of global FX and OTC derivatives markets, covering FX spot, FX forwards, FX swaps, currency swaps, FX options and interest rate derivatives. MAS obtained the data from 75 financial institutions in Singapore for the survey.
Update (11 December 2019): There is a revision in the data due to resubmission by one of the reporting entities. Singapore’s FX market overall ADTV in April 2019 is revised from US$633 billion to US$640 billion, and the overall ADTV of Singapore’s interest rate derivatives market is revised from US$109 billion to US$116 billion. Please see “Annex Tables (updated 11 December 2019)” under Resources for more details.
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